lets hope buyback continues..., page-9

I am assuming that a buyback rather than dividend payout means franking credits are being wasted, ie just sitting there, not even earning a measly bank acc.

Also from a shareholder tax perspective it can be better holding dividend paying stock, esp if one has borrowing against?

Anyone have comments on these two aspects, which appear to me as negatives wrt TAP not paying dividends??

I also don't like a company holding a third of it's capitalisation in cash for so long. Better to get it back, earning a decent return, then risk losing a bit on dilution if they really ever need the money again (which I doubt). A very lazy balance sheet is not appropriate atm IMO.

Entropylord