RE:Share buyback programthe reason they are doing the SIB is they would exhaust the NCIB before they are able to renew again in April. they will resume NCIB after SIB. Historically shares decline after an SIB so its a good time to then continue to resume the NCIB.
Additionally do you hold your shares in a registered accout (RRSP or TFSA)? If not you DO NOT want to participate in SIB because itll be a deemed dividend of the SIB price minus 2.67 (Paid up capital) so it would be like an 8 or 9 dollar dividend which would be terrible for tax purposes compared to just selling for a capital gain.
SIBs are good to take out large funds that want out without dumping the share price, along with getting around the 10% NCIB cap.