“CALGARY, Alberta, April 27, 2022 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is further increasing shareholder returns on the strength of its balance sheet and ongoing reliability of its operating performance. The company’s Board of Directors has approved tripling the base dividend starting with the second quarter of 2022, as well as a plan for additional increases to shareholder returns. Beyond the base dividend increase, Cenovus will target to return 50% of quarterly excess free funds flow to shareholders when reported net debt is less than $9 billion. The company will do this through share buybacks and/or variable dividends while also continuing to pay down the balance sheet. Cenovus has adopted an ultimate net debt target of $4 billion. When reported net debt is at the $4 billion floor, Cenovus will target to return 100% of that quarter's excess free funds flow to shareholders through share buybacks and/or variable dividends.”
If i hold im only gonna get around $100 on dividends. Unless my math is wrong which is the story of my life. Might not be that siginificant? Anyway, just wondering how buybacks work and effects on stock prices before and after. Should i sell before or after the buybacks? Or just keep holding? Its my play money but still care enough to know if i should sell or not. Not gonna be needing the money anytime soon tho. Holding 1000 shares. Thanks.
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