RE:RE:BUYBACKS: Nov = 1,322,100 for CAD11,237,850 !!!SIB would be nice, but I think Nov buybacks were catchup for none in October (when shareprice was low, unknown why).
Q1 Excess Cash Flow was CAD19.2 mln, Q2 = CAD25.5 mln, Q3 = 25.7 mln, annualized (ok not fair) is CAD100 mln, Market Cap is CAD450, so 22%.
As per ROCS policy, payout 70% directly to shareholders ie 15.6%.
Base Div is already high at ~8.6%, so no need to raise.
Leaves 7% for buybacks, but will probably fill max 10% NCIB after 6 months (ie by January).
So something doesn't add up, my math wrong or is Excess Cash Flow in Q4 higher than past?