Post by
lifeisgood1010 on Jun 11, 2024 8:42am
Buying back 24% of the float
My float estimate for DRX is about 12.5 million shares.
IF and that is a big if, DRX were to go ahead and reduce their share count by 3,000,000
shares as stated in the press release, this would mean that the float would shrink by 24%
3 million shares equats to 9.2% of the total shares and 16.4% of the non voting shares(the traded ones).
How many times have we seen share buyback announced and not fulfill or only partially done.
But the cash generation is so big that i guess that they had no choice but to do some kind of
announcement with this excess cash.
Only time will tell what they do.
In any event, rarely do we see this kind of growth in Canadian company.
I plan to be a shareholder for many years to come