There must have been an error in your calculation. As this 7-year weekly price chart of $PXT shows (https://www.tradingview.com/x/Ux5O2uQ3/), $PXT rarely touched C$29. How is it possible that the buyback reduced "29 million shares came at a cost of $33.40 per share"?
Hopefully any sovereign risk in Canada remains at a low level... only minor concern is Ottawa trying to figure out a way to give oil to natives and Quebec... Recently Ive been investing more in Quebec based companies, they have the wind at their back competing in Canada. Transportation, Dairy, Telecom, banking, insurance are much easier in many ways..
I’m enjoying this series ( can I call it that? ) on stock buybacks. I’ve often felt that many were little more than a mask to cover SBC schemes, with little to no impact on total share count. Or done to prop up declining businesses or those with limited life reserves.
There must have been an error in your calculation. As this 7-year weekly price chart of $PXT shows (https://www.tradingview.com/x/Ux5O2uQ3/), $PXT rarely touched C$29. How is it possible that the buyback reduced "29 million shares came at a cost of $33.40 per share"?
Parex Resources is one of the few companies where share buybacks have really made a significant difference that have advantaged all shareholders.
Thought provoking post....
Hopefully any sovereign risk in Canada remains at a low level... only minor concern is Ottawa trying to figure out a way to give oil to natives and Quebec... Recently Ive been investing more in Quebec based companies, they have the wind at their back competing in Canada. Transportation, Dairy, Telecom, banking, insurance are much easier in many ways..
I’m enjoying this series ( can I call it that? ) on stock buybacks. I’ve often felt that many were little more than a mask to cover SBC schemes, with little to no impact on total share count. Or done to prop up declining businesses or those with limited life reserves.
Please keep it up!
TJH