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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (103443)	3/10/2021 5:29:55 PM
From: Goose94	Read Replies (1) \| Respond to of 202167

Imperial Oil (IMO-T) new 52 week high, $32.10

To: Goose94 who wrote (103443)	5/2/2021 3:08:04 AM
From: Goose94	Read Replies (2) \| Respond to of 202167

Imperial Oil (IMO-T) announcing an increased share buyback program and the largest dividend hike in its history. It made the announcement alongside the release of its first quarter financials Apr 30th 2021. Production for the quarter averaged 432,000 barrels of oil equivalent a day, "the highest first quarter production in 30 years," boasted Imperial. Cash flow of $1.42 a share exceeded analysts' expectations of $1.25 a share. President and chief executive officer Brad Corson, declaring himself "extremely proud" of Imperial's performance in the first quarter, said the company is showing further "confidence in its future" by announcing the share buyback and dividend increases. The company now plans to repurchase up to 4 per cent of its 734 million shares, or 29.3 million. That compares with the previous maximum of 50,000. That is not a typo -- under the prior program that Imperial approved last June, it was allowed to buy back a mere 50,000 shares, or just enough to offset any dilution from its RSU (restricted stock unit) plan. The revised program is more respectably ambitious. As for the dividend, Imperial is hiking the quarterly payout to 27 cents from 22 cents, the largest increase in its history, whether by percentage or dollar value. The closest comparison is from 2019, when Imperial boosted the quarterly dividend to 19 cents from 16 cents. Normally it goes for one penny at a time. The new yield is 3.0 per cent. One fund manager says investors can expect more share buybacks and dividend hikes in the oil patch. Eric Nuttall, partner and senior portfolio manager at Ninepoint Partners, headed to BNN.ca today to talk up the energy sector (he manages the Ninepoint Energy Fund). "The party's just getting going," he proclaimed. He acknowledged that he was early to the party, which is why his fund lost about half its value last year, but so far this year, he said the fund is up 70 per cent. "The music's turned on [and] the people are trickling in," he cheered. By "people," he said he meant institutional investors. The "guest of honour, the generalist" -- retail investors -- has not quite arrived. Mr. Nuttall cited Imperial's news as he predicted that more and more companies will be able to hike their dividends and buy back more shares. "Hopefully," he concluded, "this is the ringing of the bell to the generalist." Business Reporter