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
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 |
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