RE:Comments before I take another break from the asylumOh look ... my post on PSU/RSU/options outstanding has disappeared. I wonder why? There was nothing misleading or ad-hominem in it.
I think I should post it again and see if it gets censored a second time: There are about 41 million PSUs, RSUs, and options outstanding that represent potential future dilution to ENB common shares. The proposed buyback at today's price might cancel 31 million shares, and therefore is unlikely to be materially meaningful to current common shareholders if ENB treasury will be pushing out shares faster than the NCIB pulls them back in.
See the 2020 end-of-year financial statements, note 22, for the PSU/RSU/options numbers. As general advice, you should routinely weigh the scope of an NCIB against PSUs, RSUs, and options outstanding -- if the NCIB is smaller, then it primarily benefits the optionholders and not the current common shareholders.
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Marner16 wrote:
Tickertwit: I'm glad you brought up the share "creep" at ENB as it is relevant because the NCIB will only act to negate the options. I think most retail investors would rather have the extra cash.