RE:NCIB, SIB vs DividendI agree with your analysis ... however, I don't think that any NCIB will happen. I respect that you know the controlling family at a personnel level, but what they did and the way the conducted the share buyback, solely for their own benefit at ridiculous high valuation, leaves me no doubt that what only counts is their interest. And currently they is no intesrest for them to approve an NCIB (yes I know the board decides, but the Board is nominated by the controlling interest, who happen to be the ...)
why should they initiate an NCIB that will profit to all shareholders if they can keep the money in the company and figure out how to conduct a new heist. I was amazed to see them saying that the company has enough cash to support the buyback and just a couple of weeks after, saying in the conference call that they have no cash for futur dividend increases. just for info, the current dividend is 2% of the EPS and has a yield of 0.4%. there is a lot of room to share some wealth with minority holders.
Note to myself: never invest in a company controller by multiple voting shares