RE:RE:Management is complacent~1.5% of the float (~210k shares) in Q2. With the NCIB alone, not including any blocks which may become available for repurchase from time to time, they can take another ~75k per quarter totalling around 2.5% of the outstanding float in Q2-Q4. Coupled with the all time high annualized dividend (understanding there is some lost time to make up for) not too bad?
Have to look at it from the standpoint of the family which controls ~55% of the total outstanding shares. What is in their best interest capital allocation wise is likely what is going to play out over the next number of years wouldn't you think? Depending on what the math looks like with Q4 22 and Q1 23 U.S lot sales perhaps there will be more flexability as cash accrues?