Parex Resources Inc T.PXT

Company bought back at $20+ years past. Share price now

[CrazyTrader]

$15.     If you don't learn from your past, you are bound to make the same mistake in the future...... but this time company won't have ~1/2 Billion dollars of CASH sitting in the bank when oil price crashes and share price drops.

[tigris72poo]

If the company had not bought back 60 million shares in the past 6 years would they be able to afford a dividend of $1.54/share?  That would be costing them US $172 million instead of $108 million.  That's $64 million more per year that can go into Big E exploration that could double or triple our reserves.   I have to love that. 

[CrazyTrader]

Answer, YES.  In Fact they could pay MORE than $1.54/share in dividends if they didn't buyback.   They spent almost $2 Billion in shareholder returns, most of that in buybacks.    Buybacks are a long long long term play for shareholders benefit.   Shareholders give up immediate benefits (higher dividends) and cash for the company in exchange for down the