On Aug. 9, Alberta-based Canadian Utilities Ltd. went ex-dividend and subsequently fell by more than the 37.75 cent quarterly payout. During the day, former Bank of Canada governor David Dodge, a director of company, acquired 500 Class A non-voting shares in the public market at prices ranging between $47.68 and $47.70.
This high-profile filing caught our attention as the share price has been outpacing the broad market over the past three months. It is generally a positive sign to see an insider take advantage of a price dip when the stock is in a relative upward moving trend.
Ted Dixon is CEO of INK Research , which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com . Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
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