Sounds like Divided talk in the near future to me. By the year end NVA will have repurchased about 75% of their shares targeted and their debt reduction will have been met. Trudeau's 2% tax on repurchased shares coming 2023 won't leave many options. Likely a dividend, possible small acquisitions and some facility improvements in the future.
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"Upon achievement of the net debt target above, our Board has approved an increase of the return of capital to shareholders to approximately 75% of free adjusted funds flow, with the remainder continuing to be allocated to the reduction of net debt. This is a significant increase in the return of capital as compared to the prior ratios of 25 - 50% allocated to the return of capital and 50 - 75% directed to the reduction of net debt. As our level of debt continues to decline in the future, we will consider further increases to the return of capital framework."