480 million dollars - Cash Machine With zero debt and 480 million dollars going to shareholders in January in the form of dividends, TOU is a Cash Machine.
Really the share buyback is unnecassary in my opinion, i would rather just have them keep any cash they have slated for a share buyback on the balance sheet, because these guys can smell a deal and i am sure accretive asset putchases could be made from time to time. I don't want them to have to sit on their hands.
I do think that TOU is in a unique situation with a projected 11% return in 2022, they will receive a very healthy stock price evaluation, that will ultimately put them in the drivers seat regarding potential acquisitions. People will be knocking on TOU door trying to sell them assets as they have the currency in both their shares, and on the balance sheet to back up any deal they want to do.
TOU is in a class of its own and deserves a special evaluation, low share count, essentially zero debt, and one of the top management teams on the planet. Maybe the universe for that matter.
Now in theory ARX is the most comparable company to TOU, but really how does it compare?
Not really, because their management is not invested in the same way TOU management is.
IMHO