Veren Inc T.VRN

Special dividends?

[soundandfury]

Hahaha........i dont see that in the budget ......unless wti happens to rise to 120 ....and stick.......then maybe

[AnMar]

You must be a little on the simple side, do the math and read the PR again. soundandfury = simple basher

[Fyordian]

Really? I thought it was pretty obvious share buybacks are first priority, but if share price moves too high, backup plan is special dividend if cash becomes problem. There could definitely be worst situations than having to choose between a 50M share NCIB and a special dividend. 

[Volkomm]

IMO, the NCIB should be accelerated. It's almost complete anyways. Once that is done start up another one. Do a SIB for 10-20% of shares. CPG & Baytex have a share float problem. They are much too big for a company of their size. At these prices, I'd focus on the shares + debt for now. At some point we'll hit an inflection point and share buy-backs won't make sense. 

[JohnSP]

PR "This additional return of capital will be provided to shareholders within the Company's updated framework that utilizes a combination of accretive share repurchases and special dividends. Given Crescent Point's current valuation relative to its intrinsic value at mid-cycle commodity prices, the Company initially plans to utilize a greater proportion of share repurchases within its

[Fyordian]

Yeah, buybacks are first priority, but if they buildup too much excess capital due to share price moving above buyback levels, the easiest solution is special dividend. One lump sum disbursement in the form of special dividend to reduce excess capital back down to operational levels.

[Fyordian]

Yeah, I imagine at these prices, they'll tap out buyback limit daily. I wonder what their internal price ceiling is on the buybacks, but only thing for certain is buybacks are key at this point. I agree with you about the SIB, put it all on the LOC if needed, the price is too good to ignore. That inflection point is when special dividends come into play to deal with a buildup of lump sums