TSX:PHX - Post Discussion
Post by
JohnSP on Nov 07, 2024 10:52am
Q3 Results - My Thoughts
No div raise, wishful thinking on my part.
Last Paragraph of Buker's Comments: "With our forecasted lower 2025 capital expenditure budget, we anticipate maintaining our strong commitment to shareholder returns through ROCS. We foresee exhausting our current NCIB as we believe our stock remains under valued at the current levels.
On ROCS: "Despite the decrease in excess cash flow, the Corporation maintained its current level of dividends and continued NCIB purchases as it believed the stock price was opportunistic, leading to over 70 percent of excess cash flow being distributed for shareholder returns under ROCS. The Corporation foresees the level of excess cash flow to be used for shareholder returns to stay within the 70 percent threshold in 2025.
My summary: PHX's forward expectation is 70% return to shareholders via 10% NCIB + 8% Div Yield.
Holding.
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