And one more time on buy back………a buy back decreases the number of shares but decreases the cash holding if the company. So unless the value of the company increases due to market sentiment, sometimes based on profit improvement a buy back has no immediate impact share price. Yes it increases earnings per share. But it decreases the value of cash per share by exactly the amount of share reduction. The problem with amp is that profit has been declining so bb has not been a positive over time through eps growth.
If amp buys back another $800k of shares and paid off all debt the earnings per share based on $200m profit would still only be 8 cents. At 15 times this only gives you $1.20.
AMP 5% yield and growing., page-79
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Last
$1.33 |
Change
-0.010(0.75%) |
Mkt cap ! $3.394B | |||
| Open | High | Low | Value | Volume |
| $1.34 | $1.34 | $1.33 | $9.219M | 6.927M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 21657 | $1.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.34 | 7791 | 1 |
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| Last trade - 16.10pm 30/09/2024 (20 minute delay) ? |
| AMP (ASX) Chart |