Sylogist Ltd T.SYZ

Slashing dividend, yet buying in shares? Is this even legal?

[janeintoronto]

I don't have it at hand but SYZ's previous communication certainly hinted that there would be no more div increases. That was disappointing.  Then they hit us with a hammer and cut the dividend almost completely. I was shocked. Were they doing badly?  Did they need funds for growth?  No, no, they just wanted to buy in shares, so they did whatever it took to depress the price.
Is this a creeping privatization?  I am so dang mad I think a class action suit would not be amiss....and I don't typically believe in those.

[Possibleidiot01]

Are they not allowed to change corporate direction ? New management looked at the situation and realized maintaining the high payout in a higher interest rate environment was not going to help the company grow. How do you manage to grow a company when you don't retain profits ; I guess you can sell more shares which has its' one issues. JMO Terrible internet not allowing me to look at

[janeintoronto]

When they announce a share buyback at the very same time they nearly completely eliminate the dividend, that's not helping the company grow, it's a sneaking privatization. I think it is just wrong. This was a good holding, it's the same company, yet now I've lost a bundle. 

[Mephistopheles3]

The stock has fully recovered from the hit that it took from cutting the dividend and is back to the $6 range now. So you haven't really lost anything from that decision. Buyback is just to cushion the blow, 7-9k shares bought back each day won't result in privatization. CEOs stock options are at a much higher level, so while I definitely see them trying to flip the company in a year or