RE:Pipestone Energy Announces Share Buyback ProgramAwareInvestor wrote: Pipestone Energy evidently feels it is rather undervalued. The oil and gas firm this morning announced the launch of its first ever stock buyback program, with the firm looking to repurchase up to 5% of its common shares outstanding.
And it really makes a lot of sense.
Buying backs shares at current rates for destruction and upon conversion of the loan, create new shares at C$0.86 (about 100million of them).
I bet some people might want them to spend the money on dividend.
Have fun.