BUYBACKS SUCK because they serve to pump up the future value of options instead of only rewarding current shareholders like a dividend would....
BEHOLD 50% of the buyback is offset and negated by exec options/share rights that will probably vest. So we've only really got half the benefit of the buyback if the vesting hurdles are met... if they are price based, then the buyback makes them easier to vest over time...
So this is why I hate buybacks and think the board should wait until they have enough franking credits to pay dividends.
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Open | High | Low | Value | Volume |
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3 | 6467 | $7.69 |
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1 | 2100 | 7.680 |
6 | 21721 | 7.670 |
2 | 48813 | 7.660 |
5 | 31550 | 7.650 |
Price($) | Vol. | No. |
---|---|---|
7.720 | 12498 | 2 |
7.730 | 3300 | 1 |
7.740 | 15911 | 3 |
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