Yesterday we bought back a tad over 9% of turnover.
Without knowing how the process is set up, I expected a larger BB percentage last Mon 17th when the stock went XD, and 13,863,862 shares changed hands. However NHC only bought back 1,458,840 - a little bit more than 10.5%.
As far as I can tell, each of those nearly 14mil shares the day the stock went ex-dividend, traded well below the ceiling of "Highest price allowed to be paid by entity on the previous day under listing rule 7.33:", which was $6.13.
I wonder if the listing rule also precludes buying above a daily percentage? Seem to recall the question being asked across on WHC some months ago, (not by me), but don't know that there was a definitive answer put up? Anyone's thoughts?
NHC Price at posting:
$5.19 Sentiment: Buy Disclosure: Held
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