I think they would have to be thinking about it.
But with that being said, the bank balance isn't $3b anymore. They have to pay the $773m tax bill from last year this month, and have over $500m to pay in capital and project expenditure over the next 6 months to keep everything on track - so they would be very conscious of outlaying additional funds for a buyback.
I don't mind the idea of announcing one just so it's out in the open and noting that there there will be a point in time where they would initiate something. Just because they announce it doesn't mean that they have to actually move forward with it.
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$2.90 |
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Open | High | Low | Value | Volume |
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---|---|---|
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Price($) | Vol. | No. |
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2 | 3279 | 2.880 |
1 | 39419 | 2.870 |
4 | 545141 | 2.850 |
7 | 851287 | 2.840 |
Price($) | Vol. | No. |
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