I’ll have to correct you there. The share buybacks were...

I’ll have to correct you there. The share buybacks were successful and the best use of shareholder funds. Buying back shares increases the remaining shareholders ownership of the business and share of future cash flows by reducing the number of shares on issue. I would much rather a business that buys back shares when they are cheap than one using those same funds to pay dividends.
Management has been smart buying back shares and not paying dividends. In the long run that increases the share of profits of the patient long term holders and takes advantage of the weak shareholders who are impatient and willing to sell their shares cheap. I benefit from these sellers who fail to understand the business generates cash flows that are the same whether or not the profits are distributed in the form of a dividend or a share buy back.