ARC Resources Ltd T.ARX

RE:New Press Release - ARC RESOURCES LTD. CONFIRMS QUARTERLY DIVIDEND OF $0.17 PER SHARE FOR OCTOBER 16, 2023

[Quintessential1]

Right?!  I know it is a big divy add in the range of 47% higher than the current .68 cents per year but at the 52 week high share price level of $21.74 (thanks TimeBuilder) it is only a 4.5% yield.

And in anticipation of that I would like to see them buy back all they can even at the current high share price which I believe is still at about a 15% discount to what it should and will be trading at in 2024.  Think of all the divy they will save at a buck a share and also skirt the 2% buyback tax which is why I think they should stop buybacks in 2024 and pay dividends and cap-ex and put together a war-chest to pay down that debt that is coming due in 2025/26?  I would love to see net debt  go lower than longterm debt as that obligation approaches and I hate the idea of paying the government anymore than they have to. Maybe they could even reduce their revolving credit facility which at these interest rates probably costs more than the divy.

GLTY and ALL ARX BULLS

PressRelease wrote:

CALGARY, AB, Sept. 15, 2023 /CNW/ - (TSX: ARX) ARC Resources Ltd. ("ARC") confirms a quarterly eligible dividend amount of .17 per share for October 16, 2023 to shareholders of record on September 29, 2023. At September 15, 2023, the trailing 12-month payments to shareholders total .59 per...read article.