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Potash Corporation of Saskatchewan Inc. Message Board

  • netcircle netcircle Jul 31, 2013 1:43 PM Flag

    POT $2B Stock Repurchase Program starts on AUGUST 2nd

    They will start the $2B repurchase program on AUG 2, 2013 which is in 2 days. Read the following news which just came out minutes ago:
    "- Potash confirms $2B share repurchase program
    Potash Corporation of Saskatchewan announced that the Toronto Stock Exchange has approved PotashCorp's previously announced share repurchase program to purchase for cancellation up to 43,345,992 common shares, representing 5% of its outstanding common shares, over a one-year period through a normal course issuer bid subject to a maximum aggregate amount of US$2B. Repurchases under the program may commence on August 2 and will terminate not later than August 1, 2014. There were 866,919,856 common shares outstanding as at July 30. Common shares repurchased under the program will be cancelled."
    Based on the current prices, they will be able to buy even more shares than they anticipated before. I guess 60 million shares will be more accurate. This is GREAT NEWS for the shareholders as over 5% of shares will be taken out of the market and will increase the value of remaining shares.
    Do your own due diligence, but this is a no brainer, and do not forget the almost 4% dividend you will get while you hold your shares.

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