Anyone explain how spending $30mmU$ on Buyback is 6.6% Yield"
On August 6, 2024, the last full trading day prior to the date of announcement of the Company's intention to make the Offer, the closing price of the Shares on the TSX was CAD$7.25 per Share. Assuming full and pro-rata shareholder participation, the Offer represents a CAD$0.48 per Share distribution equivalent to a 6.6% yield on the Company's stock price prior to the announcement of the Offer during the Company's second quarter 2024 results. Including all dividends declared this year, the year-to-date distribution total to shareholders would be CAD$0.67 per Share (equivalent to a 9.2% yield). The Board shall continue to consider future investor initiatives in 2024 and beyond, including potential additional dividends, share buybacks, distributions, bond buybacks or other initiatives, based on the overall results of the businesses, cash flow generation and the Company's strategic goals