TSX:AX.PR.E - Post by User
Comment by
jmkOttawaon Mar 04, 2023 2:29pm
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Post# 35319388
RE:63 million
RE:63 millionThe one question that I was surprosed not to be asked at the conference call after Q4:
When can we expect the NCIB to be utilized to cancel shares that are trading at 50 percent of NAV?
It a dual benefit: Each dollar of unit value canceled gives an equivalent return of close to 7 percent (less distribution what needs to be paid every month). And each dollar canceled increases book value of the reit by a dollar (by virtue of the 50 percent discount to NAV. It is a win-win situation that seems to be superior to buying other REIT units.