Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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The buybacks they did 2 odd years ago were to cancel shares they issued with the BG acquisition and also buy back shares that were issued as scrip dividend during the 2015 ish oil price slump ....scrip dividends often turn out to be an EXPENSIVE exercise in the end
I'm of the opinion that buybacks MAY be a sign that 'the management' don't have any idea how to spend their spare cash.
For a company like Shell - which faces the business model threat of a shift to green energy - it COULD be very worrying.
I would have thought that they should be partnering with innovative companies in low carbon technologies, funding their research and/or development....with the option to purchase a controlling interest in the future. Perhaps they are doing such things. I hope so.
"Funny how there is never any spare money avialable for buybacks when SP is low. !"
Exactly!
I just loathe buybacks.
In principle they sound great, but for a small PI absolutely no use.
I am sure Shell were busy buying back shares when SP was over £20.
Far better to either
1. pay down interest bearing debt - (The No 1 killer of all companies)
2. pay a special divi to the PI - at least we get some benefit
I am sick to death of directors lining their own pockets with free-options, throwing money down the toilet on buy backs.
Money needs to invested in the future - not massaging EPS to help themselves.
If you had spare would you buy shares to cancel them ?
Absolutely pointless
I do accept that it does seem to work better over the pond, where SPs tend to climb on such news, but in the UK it does not seem to work and always involves buying shares when they are expensive. Funny how there is never any spare money avialable for buybacks when SP is low. !
Rant over .. sorry folks.
I went to the Stephen Bland school of investing - buybacks are trash
Cheers & GLA - CSDI (Crap Share Dealing Ideas)
PS. Suffering from a bad bout of buying too high, as bought first batch in 2018 @ 2688p - ouch.
Got average down to 1774p for now, with plan to sell some at £15 if we can get back there (which cost 1337p last week)
Hi, if you recall about 2 uears ago the buybacks were at £24&, so yes high. But if theat hadn't happened the dividend would have probably gone all together. Need the results in 2 weeks to push share price back towards £16, which appears to be the ceiling
I would rather they did any acquisitions necessary for the "new world" or got the gearing back into shape so the balance sheet and shape of portfolio is absolutely right...before any more buybacks
Besides buybacks tend to bought at higher prices when obviously there is "extra" cash to spare...is that the "best" use for it ?
I like this comment on another board....
"For me, I think they work best when done alongside a dividend policy, because it causes that dividend payout to gradually increase on a per share basis while the firm can keep the actual dividend payments flat. Additionally, most shareholders will derive the majority of their returns from selling their shares rather than via holding for the dividends, in which case they may as well accelerate that process with a buyback"
sums it up well....