Yes it is a tax play at the end of the day... designed to benefit insto and retirees who pay low to no tax in the first place.
There is a slight benefit to existing holders that it provides a floor to the SP and as mentioned above a tighter spigot to the supply side of the supply and demand equation.
Personally, I would prefer a special div or an on market buyback too. But then again CBA did pioneer this kind of buyback scheme in 1997, so maybe I should have seen this coming.
https://www2.monash.edu/impact/articles/banking/off-market-share-buybacks-clever-schemes-or-rorts/?gclsrc=aw.ds&gclid=Cj0KCQjw6s2IBhCnARIsAP8RfAhFYzpcN_VU9XjXZDV1w3k2vFykappPEdr_-g4jJU4QoZ4cAaMouCoaAqWKEALw_wcB
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- Ann: CBA announces $6 billion off-market share buy-back
Ann: CBA announces $6 billion off-market share buy-back, page-28
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Last
$129.55 |
Change
0.440(0.34%) |
Mkt cap ! $216.8B |
Open | High | Low | Value | Volume |
$130.00 | $130.23 | $128.88 | $250.1M | 1.941M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 77 | $129.43 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$129.55 | 621 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4 | 129.360 |
1 | 1 | 129.290 |
1 | 20 | 129.000 |
1 | 380 | 128.930 |
1 | 800 | 128.900 |
Price($) | Vol. | No. |
---|---|---|
129.550 | 21 | 1 |
129.570 | 4 | 1 |
129.680 | 80 | 1 |
129.700 | 18 | 1 |
129.800 | 194 | 1 |
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