I believe HLI will stick to their existing capital management...

I believe HLI will stick to their existing capital management plan which has been working well the past few years. HLI will probably announce the standard $0.14 dividend with a special around the $0.41 mark ($0.55 total, hopefully higher). In additional to the standard, plus special dividend HLI will likely add an additional $100 million dollar share buyback to start after going ex in March 2024. This way they can buy back their shares at a much cheaper price, assuming the share price doesn’t keep charging. It seems like the company see’s the current share price at fair value around the $4.30 level, which may be why they haven’t been buying back their shares given the last buyback notice was on 01/12/23. Blackout period should start end of Jan as they will announce FY 2023 Financial Results on 27/02/24.