More money to Trudeau less to shareholders In the March 2023 Federal Budget, new legislation was tabled that will impose a two per cent corporate level tax on share buybacks by Canadian public corporations, effective January 1, 2024.
So companies hopefully, do not want to send more cash to Justin Trudeau in 2024.
The share buyback tax can only be positive for asset sales and out right merger and aquisition. It actually makes buying your own stock more expesive while buying other companies if they looked attractive before, they look just a little be better now.
Who do you believe and actions speak louder than word, while TOU with the most reserves and best assets keeps buying companies, and drils to fill.
Companed to ARX that passes up on 1/2 cycle opportunities at Kakwa, build full cyce expensive dry gas, and now attachie, all while they have a huge about of idle plant capacity at Kakwa.
Mike Rose says opportunistic buybacks, and purchase companies at will.
Terry at ARX says they have the very best assets there are none better to buy, full cycle development and share buybacks?
Looks like ARX is going to be sending more money to Justin.
IMHO