Topic: How To Invest

The Successful Investor Hotline – Friday, May 6, 2022

Article Excerpt

IMPERIAL OIL LTD., $68.02, Toronto symbol IMO, is a buy. This company gets about 60% of its production from oil sands operations in Alberta. Imperial also has conventional oil and natural gas operations in the West and holds stakes in projects off the coast of Atlantic Canada. Imperial’s other operations include three refineries (one in Alberta, two in Ontario) and a petrochemical plant in Sarnia, Ontario. The company now plans to buy back up to $2.5 billion of its common shares (about 6% of the total) through a Dutch auction process. Investors who want to participate must offer their shares for between $62.00 and $78.00 (in increments of $0.25) before June 10, 2022. The final purchase price will be the lowest amount within that range at which Imperial can buy the most shares for $2.5 billion. The company will then pay that price for all shares tendered at or below it. If you tender at a higher price, Imperial will return your shares. The…