Hi,
I think these bank buybacks are an abomination , basically an unfair tax dodge for SMSF's and others on very low tax rates. As a consequence I am in all of them boots and all.
My reading of this one is that it is a waste of time, the dividend component is too small , hence there isn't much extra profit in taking this up at the 14% discount , even at 10% barely worth bothering.
Unless I have misread it, a special dividend would have been better.
Ann: Westpac announces $3.5 billion off-market share buy-back, page-2
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