Post by
Gringotts on May 07, 2022 8:31pm
NCIB STARTS MONDAY 9 2022 - TIME FOR A HAPPY DANCE!
Under the NCIB, Gear may purchase for cancellation up to 24,029,161 common shares of Gear, representing approximately 10% of the "public float", which is equal to the issued and outstanding common shares...The total number of common shares that Gear is permitted to purchase is subject to a daily purchase limit of 551,916 Shares.
:)
Comment by
MohelJFox on May 07, 2022 9:43pm
I hope they go full retard on the first day, just to gain some extra eyes in our direction. Im quite confident Ingy won't cheap out like other companies and actually grab all 10%. It seems other guys anounce a NCIB only for the news headline, but never fill the cart.
Comment by
CandyC on May 07, 2022 10:11pm
Regardless of when they start buybacks it's going to last for many years. The variable Dividends should be interesting. It's only 0.01/share for Q1 profits. Expecting 0.025 next quarter. This works out to be above 7% per year. Special dividends should be interesting. Any way you look at it puking cash
Comment by
astutein on May 07, 2022 10:20pm
candy - Q2 is on target to be fantastic. Not subject to credit limitations and we do not have hedging. May average for oil 106 and I calulated April at 99 US.average. Your expectation 0.025 realistic.
Comment by
masfortuna on May 09, 2022 8:32am
They provided a chart Candy so you can add all 4 quarters together and at $1.60 it's 4.7% PROJECTED.
Comment by
masfortuna on May 09, 2022 8:30am
Yes that is true. The NCIB gives a company the opportunity to buy back 10% but most companies do not. They apply for the max just in case. I think with Gear, they may buyback the full 10%.