Yes, I figure out STT.V could comfortably start paying 1c/year divy for a yield close to 4%. Once they do pay a dividend and get into the main TSX board there is no way the stock remains so undervalued anymore. Last week saw a large +1M shares dump by a disgruntled large shareholder, Bobby Genovese of BG Capital. He sold off 5M shares in July and after last weeks sale he is down to about 1.9M. Market nicely absorved his sales last week and STT bought quite a few trhough Raymond James for cancellation.STT will soon be rewarding shareholders with BOTH a share buyback program AND dividends.
STT arranges buyback of up to 2.79 million shares
2015-05-14 12:00 ET - News Release
Ms. Holly Hendershot reports
STT ENVIRO CORP. ANNOUNCES NORMAL COURSE ISSUER BID
STT Enviro Corp. has received TSX Venture Exchange approval of its notice of intention to commence a normal course issuer bid (NCIB) through the facilities of the TSX-V, permitting the company to repurchase, for cancellation, up to 2,791,547 common shares in the capital of the company, representing approximately 10 per cent of the company's public float (as such term is defined in the TSX-V Corporate Finance Manual).
The NCIB will commence on May 20, 2015, and run until the earlier of the date on which purchases under the NCIB have been completed or May 20, 2016. The company is commencing the bid because it believes that the current market price of its shares may not fully reflect the underlying value of the company's business and its future business prospects. Accordingly, STT Enviro believes that purchasing and returning its common shares to treasury at present pricing represents an opportunity to enhance value for its continuing shareholders. The company's cash position allows for the implementation of the bid without adversely affecting the company's other opportunities.
The NCIB is to be made through the facilities of the TSX-V and in accordance with policy statements on normal course issuer bids. The price which STT Enviro will pay for any common share will be the market price at the time of acquisition plus brokerage fees, if any. No purchases of common shares have been made by the company in the past 12 months. Purchases pursuant to the NCIB will be made by Raymond James Ltd. on behalf of the company. A copy of the Form 5G -- Notice of Intention to Make a Normal Course Issuer Bid filed by the company with the TSX-V can be obtained from the company upon request without charge.
To the knowledge of the directors and officers of STT Enviro, no director or officer, associate of a director or officer of the company, or person acting jointly or in concert with the company, nor any person holding 10 per cent or more of the common shares has any present intention to sell common shares during the period of the NCIB.
We seek Safe Harbor.
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