dividends vs buybacks
I just dont get the impression WFG is looking to pay its soon to be gigantic earnings out as a gigantic dividend. Could be wrong but I don't think they even mentioned such a possibility in the last call. Culturally, WFG seems more like an aggressive grower and historically returned alot through aggressive share buybacks.
I'd rather see them complete their NCIB ASAP and then do a big issuer bid and knock out the weak hands. In the long run it will be worth alot more per share if the higher for longer thesis plays out.