The share repurchases help support the share price. A portion also goes to buying back all those extra shares management have given themselves as remuneration. A fair chunk of performance based remuneration is shares. These dilute existing shareholders unless you use profits to buy back those excess shares. Can’t go diluting shareholders for too long with free management shares. A buy back helps solve this problem.
MQG Price at posting:
$158.53 Sentiment: None Disclosure: Held
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