Not to mention that buybacks make it more difficult for the share price to be pushed/manipulated down -
Your comment confirms that buybacks are based on theoretical outcome.
Westpac made public comments about struggling families and pensioners, they are supposedly a good corporate citizen but ignore the plight of these group when it comes to implement buybacks.
If they were good corporate citizens, the board would have ignored the votes of the institutions on approval of the buyback. Instead they would have implemented a Capital Return distribution which in the majority of cases would have been tax free.
A double bonus, a dividend and an extra distribution!
WBC Price at posting:
$27.89 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)