RE:RE:RE:No New Shares I looked at investopedia couple timbits, but this is still above my pay grade of full understanding.
The last raise they did for the Stratus deal also came from the 'Treasury' and the recorded shares outstanding number jumped 16.7 million, 16.4 million of which came from the bought deal issuance the others seem like they are regular increases likely from the DRIP...
It also seems like these shares do dilute the EPS, the Distributable income per share metrics and dividend payout ratio maths. As far as I'm concerned the internal maths of where ever these treasury shares are held on the balance sheet doesn't matter to me, if the ratios I and they use to try to value, analize and invest upon math's are affected/diluted buy this 're-placement' (I guess) of shares, I consider it dilution enough.
What Is Treasury Stock?
Treasury stock, also known as treasury shares or reacquired stock, refers to previously outstanding stock that has been bought back from stockholders by the issuing company. The result is that the total number of outstanding shares on the open market decreases. Treasury stock remains issued but is not included in the distribution of dividends or the calculation of earnings per share (EPS).
Understanding Treasury Stock
Treasury stock is a contra equity account recorded in the shareholders' equity section of the balance sheet. Because treasury stock represents the number of shares repurchased from the open market, it reduces shareholders' equity by the amount paid for the stock.
In addition to not issuing dividends and not being included in EPS calculations, treasury shares also have no voting rights. The amount of treasury stock repurchased by a company may be limited by its nation's regulatory body.
Treasury stock can be retired or held for resale in the open market. Retired shares are permanently canceled and cannot be reissued later. Once retired, the shares are no longer listed as treasury stock on a company's financial statements. Non-retired treasury shares can be reissued through stock dividends, employee compensation, or capital raising.