RE:Share PurchasesExellent summary on the sharebuyback history for Parex.
Taking into consideration the share buybacks in 2024 of approx. 5.1275 million at an average price of slightly over $20 and so far since share buybacks began, they have repurchased close to 67 million shares for a total sum of $1.365 Billion.
Add the dividend payments, of approx. $450 million since they began paying dividends, and Parex has returned to shareholders slightly over $1.81 Billion.
CrazyTrader mentioned that share buybacks are a long term benefit to shareholders, but that is not the case, IMO. Share buybacks immediately give back to shareholders as it reduces the amount of outstanding shares, supports the share price, and as long as Earnings remain the same, EPS will increase due to the lower float as well as add to FFO.
Also, Parex invests 2/3 of their earnings back into the company while using the other 1/3 for share buybacks and dividend payments. Parex has little to no debt. The only money they borrow is from a line of credit used for operational purposes which is a healthy short term loan.
Other than that, operations are fully funded, and growth is organic without the need to take on any long term debt.
As Mike Kruchten stated in their last webcast, Parex is balancing dividend payout and sharebuyacks with a strong emphasis on dividends while complementing this ROC with a continued share buyback program as the company strongly believes their shares are undervalued.
No doubt the dividend is the anchor, but share buybacks remain a factor as they provide value and support to the shares.
traderlong2 wrote:
2023
Under a previous notice of intention to conduct a normal course issuer bid, the company sought and received approval of the TSX to purchase 10,675,555 common shares for the period from Jan. 4, 2023, to Jan. 3, 2024. From Jan. 4, 2023, to Jan. 3, 2024, the company purchased 5,628,100 common shares on the open market at a weighted average price of $25.1587 per common share.
2022
Under a previous notice of intention to conduct a normal course issuer bid, the Company sought and received approval of the TSX to purchase 11,820,533 Common Shares for the period from January 4, 2022 to January 3, 2023. From January 4, 2022 to September 30, 2022, the Company purchased 11,820,533 Common Shares on the open market at a weighted-average price of $20.58 per Common Share.
2021
Under a previous notice of intention to conduct a normal course issuer bid, the Company sought and received approval of the TSX to purchase 12,868,562 Common Shares for the period from December 23, 2020 to December 22, 2021. From December 23, 2020 to December 22, 2021, the Company has purchased 12,868,562 Common Shares on the open market at a weighted average price of $21.25 per Common Share.
2020
Under a previous notice of intention to conduct a normal course issuer bid, the Company sought and received approval of the TSX to purchase 13,986,994 Common Shares for the period from December 23, 2019 to December 22, 2020. From December 23, 2019 to the December 17, 2020, the Company has purchased 13,678,000 Common Shares on the open market at a weighted average price of $16.65 per Common Share.
2019
ursuant to a previous notice of intention to conduct a normal course issuer bid, under which the Company sought and received approval of the TSX to purchase 15,041,319 Common Shares for the period from December 21, 2018 to December 20, 2019, the Company purchased 15,041,319 Common Shares on the open market at a weighted average price of $20.04 per Common Share.
2018
Pursuant to a previous notice of intention to conduct a normal course issuer bid, under which the Company sought and received approval of the TSX to purchase 7,726,077 Common Shares for the period from September 13, 2017 to September 12, 2018, the Company purchased 2,825,335 Common Shares on the open market at a weighted average price of $20.96 per Common Share.
As of the close of business on August 31, 2017, the Company had 154,521,539 common shares issued and outstanding