RE:RE:RE:RE:TSX Approval for Renewed Normal Course Issuer BidIierrad5 - I understand you're a CPA.
Many of us on this board have credentials in the finance. Getting an approval for NCIB is standard...BIR has obtained this approval for the last several years. It does not mean they are going to out and buy back 13M shares. They can buy back up to 13M if they desire.
Peyto did the dividend because they had bad hedges in place and need a good story. I am happy to see their price up - I want everyone to win....many of us have suffered for too long.
BIR on the other hand has an opportunity like no other to elminate debt in its entirety and then pay a dividend with ZERO risk to the business. Taking the unhedged gamble is paying off...I don't want the $$$ wasted on dividends....pay the debt....buy back shares on on stock price weakness (as they did in Aug/Sept).
Pay me my derisked divy starting in 2023. No debt - all divy....will result in an all time high SP for BIR.
We just need patience. Long term over short term.
Generational wealth opportunities do not come around often. Stay the course.