I agree. The logic of on market share buy backs escapes me. They are generally announced after good results which usually leads to a share price increase so the company ends up paying an inflated price to buy back their own stock. It is even worse when subsequently the company raises capital at a discount to market shortly thereafter, eg, ANZ.
If they are worried about the number of shares on issue, do a capital return and share consolidation, that way all shareholders benefit equally and get cash in their pockets as well.
Ann: Dividend/Distribution - STO, page-34
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$7.94 |
Change
0.000(0.00%) |
Mkt cap ! $25.78B | |||
| Open | High | Low | Value | Volume |
| $7.97 | $7.99 | $7.93 | $47.72M | 6.006M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 67051 | $7.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.95 | 2000 | 1 |
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