growth

“This consistent execution positions us very well to invest in the many accretive growth opportunities ahead, while maintaining our commitment to returning capital to shareholders,” CFO Prashanth Mahendra-Rajah added.

Historically, big capital expenditure is not rewarded — Subramanian points out, in data stretching back to 1986, the relative performance of companies in the top decile of spending growth has lagged the equal-weighted S&P 500.

Its model gives the U.S. the benefit of the doubt on measures like economic growth.

Finance chief Prashanth Mahendra-Rajah said the company is well positioned to invest in growth opportunities, while still continuing to return capital to shareholders.

The company has been posting steady growth this year, with recent performance pushing its valuation to the top of the Toronto Stock Exchange.