RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Is CJ buying shares?It would be nice if item 2 remained at a 10% yield at the low end that being $7.20 per share right now.
If the rest went entirely into share buybacks at below that level that would insure that CJ and its investors are getting a low price for their stock and at saving at least a 10% payout. It would also establish a roughly decent floor.
Now after Q2 with lower debt and higher returns the share price might finally jump that $9.60 resistance level and then the div may need adjusting to aid a new (hopefully) support level and 2 cents per month for the easy math would put it around $9.60 right at what should be the new support. Of course that is a hefty 1/3 increase in yield but without debt it should be sustainable with a little left over for cap-ex expansion or a future acquisitions warchest fund. Until then 10% is more than enough for me especially if there is upside potential too.
All of this is speculation and x-mas wishing for a new year.
Cheers to all and Happy Holidays!
vwbusman wrote: Directly from Cardinal Presentation
1. Eliminate bank debt
2. Increase shareholder returns i. Sustainable dividend increases ii. Share buybacks iii. Variable dividends
3. Capital Expenditures i. Enhance long term inventory
4. Acquisitions i. Improve long term sustainability
As to what item 2 means - could be any combination of the three listed options or done individually