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SIB 2

[caretired1]

They could do another one for 150-200 million given the share price "weakness" before restarting the dividend

[organeer]

Do you mean in addition to the normal course issuer bid?

[canader]

Yes, possibly another SIB, I don't think right away, So NCIB next, ( plus maybe Div? ), possibly another SIB later towards the end of the year again, A dividend could be anytime they decide to pull the trigger on it. Depends on whether they want to maximize the buyback leverage or not. Also need to see how the economy plays out. GLTA cept the Dhorties of course!  

[wildrunner11]

As a long, better off with a NCIB, they pay a premium on buy back of SIB. At current price better buying on market with NCIB as much as possible better value to current shareholders. 

[caretired1]

The NCIB might take several months and have a higher price than an SIB done in the next 30 days. Makes the dividend cost to them cheaper on fewer shares sooner. Would you take $41 o to so today?

[wildrunner11]

I would not, it would take at least $45, probably more depends on the share price at tender, if within $2 I would not tender. I'm curious to see canader post the short position, it went up significantly at 12/15. Not understanding the short position strategy.   

[organeer]

Why would anyone tender at 41? The company just bought back $300000000 at 43.5

[caretired1]

When you tendered at 43 did you think it was going to $38?

[organeer]

Personally, no. But I can't speak on behalf of others

[canader]

I figured the price would relax a bit, and planned for it, but $38. No, Not $38. But do love Nibbling away at it at this price.

[caretired1]

The Sib at 43 was oversubscribed by 2:1 so the company would be confident of filling again at 10% above mkt given 43 was market when they announced it. A very efficient way for them to take out another 5 mllion shares for the benefit of those that stay and big sellers who take money off the table

[canader]

Things are not always as they appear,... I figured it was gonna be oversubscribed (over 100% gain in a 1.5years ) and I was greedy so I put way more shares up than I wanted to sell. Like 3:1 or there abouts. I also figured there was gonna be a post SIB dip. Just didn't know how much. ( Thanks short sellers ) SO, I sold more than I wanted at $43.50. And now I am slowly DCA buying

[caretired1]

Similarly some would not have sold deferring taking the gain to 2022. I'd be happy if they take another 10% of the float off the market quickly

[wildrunner11]

I end up buying more shares mid December for $40.50, put all my share up for redemption, and now rebuying back to my original amount between 39-40 a share. (For my TFSA and RRSP accounts, not worth it in cash account) I feel like I took candy from a child.  I don't know if we'll see a NCIB or dividend first. Would love to see a dividend of $0.20-$0.25 a share initiated with a

[gossamer4]

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