RE:RE:RE:RE:NCIB VS Dividendmickeymouse wrote: Ok - lets look at a different time frame;
Sept 26/22 - CJ closed at 6.67
Oct 26/22 - CJ closed at 9.26
Price increase = 2.59/6.67 = 38.8% increase in price over 1 month
Sept 26/22 - WTI closed at 76.72
Oct 26/22 - WTI closed at 88.22
Prce increase = 11.48/76.72 = 14.9% increase in oil price over 1 month
CJ significantly outperformed the commodity price increase over that time period - most commodity producers move up or down more than the underlying commodity as they are leveraged to the commodity price. I would suggest to you that this leverage is the reason for the stock movng more than the commodity price - as opposed to anything having to do with an NCIB.
In the middle of the time period noted above (Oct 11/22) CJ announced an increae in the monthly dividend from 5 to 6 cents - perhaps investors took that as a signal of confidence in the company and the share price responded accordingly
Looks to me like there is concern about the stability of the dividend when oil gets in that mid 70s range.
Personally I think this debate has merit both ways. In this instance I was fine with my 5 cents a month and would have preferred that extra cent being directed towards either debt or buybacks.