GrandmaBetter get on the phone to Grandma and tell her about "a lumber stock" Pronounce carefully so she doesn't think its a new-fangled kind of back pain therapy.
Lumber stocks - for widows and orphans now also apparently.
Hopefully thats the last dividend IFP pays. They could have bought 2 MM shares back with that money and boosted the share price through the buyback and also future earnings.
To IFP Managament:
You have dropped the ball on your NCIB.
Time to get ahead of your changed business landscape rather than reacting to it.
Time to announce Substantial Issuer Bid.
Paying a big dividend is like advertising to the market that you are fresh outa ideas: You don't know how to allocate or invest your capital inflow and there are no opportunities to do so in your industry. Yet this is clearly untrue - IFP stock is trading at valuation of what you paid for that new mill. Buying IFP stock is an even better investment.
Please call Warren Buffet - he will help you. He might even make a crappy offer of $50/shr for the company.