hi guys I like the fact that VLW are buying back 5% of their...

hi guys
I like the fact that VLW are buying back 5% of their stock till OCT 2019, what I don't like is that top 20 shareholders only own about 52% of the company, also what I don't like is that directors don't seem to own many shares in VLW.
Also VLW like many in the sector seen to have negative cash flow every 2nd or 3rd year, yet they still manage to pay a divvy which means they are using borrowed money to pay the divvy, and not out of existing cash flow, unsustainable, especially if interest rates keep going up and we get a property slump.

whats everyones thoughts?