The problem with the buyback was one of timing. From memory, I think the bulk of it was done when the share price was above $40. They executed the buyback whilst the share price was near historical highs. They could have bought truckloads under 38 (or the UK equivalent given that the buyback was done on the LSE).
Appreciate the dividend sentiment too as dividends are often seen as a price signalling mechanism by management but if they can generate more profit than interest in the bank then reinvesting earnings is fine. Notably Apple's share price has been a rocket without the company giving one cent in dividends back to shareholders.
stop buy back and increase dividend payout , page-18
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Last
$40.77 |
Change
0.240(0.59%) |
Mkt cap ! $206.7B | |||
| Open | High | Low | Value | Volume |
| $40.70 | $40.90 | $40.45 | $537.7M | 13.19M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50 | $40.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $40.78 | 8000 | 4 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| BHP (ASX) Chart |