RE:RE:should hit low 29's tomorrowFrom Feb 19, 2021 to Oct 25, 2021 they bought back 68 million shares or 4.46 % of the shares. This did this in 8 months. So they cancelled 8.5 million shares per month. One could assume with these prices that another 34 million shares will be cancelled to close out the calander year or 6.69%. The are not going to stop. That saves them $171 million a year in dividend payments. :)
rad10 wrote: NewfNewf wrote: Time to start buying back in. 20% of my position tomorrow. Next 20% in the 26's. Final 60% if it hits the 21's again. Lets see how she goes.
The buyback is ongoing. They bought back 4.1% of the outstanding shares this last financial year. The new NCIB is even more aggressive - over 6%.
Deleveraging is also ongoing.
I hope you are able to pick up shares at that level. You will be pleasantly surprised a year out.
The improved fiscal stewardship of these companies - CVE / SU etc is good news for investors.