Share BuybacksI love seeing BTE buying back and cancelling outstanding shares each and every trading day during the month of October. They bought back an average of 468,000 shares per trading day.
https://stockhouse.com/companies/insiders?symbol=bte Management believes that BTE is under valued. I agree. If you believe that BTE will appreciate by 20% or 30% during the next year and debt is only costing the company 10%, the best bang for the buck will be achieved by share buybacks. The debt can wait.
It is important for companies to buy back as many shares as possible before the end of 2023. The new 2% share buyback tax in Canada starts on January 1st.