Ann: a2MC completes on-market share buyback, page-55

I agree there's too much weight placed on it here, but this is a discussion forum and it gives people something to talk about

It's a drop of water in the scheme of things. If they run one every year and increase the scale a bit it would have a cumulative material effect.

There's an optics component but they also just needed to do something with their capital. They still need to. Even with yearly buybacks they would have ample remaining capital for acquisitions or investment in manufacturing. The other argument is that dividends would be better, but as @CarlosG pointed out above there is a case that buybacks are better value for holders in the longer run.