My guess is that it gets more shares into the hands of a better class of shareholder in the company's eyes. Ones that are willign to hold on for the long run and reinvest their dividends back into the company, rather than those sellling out. They're not alone in doing this, many others do it as well.
As for the buyback now, it seems to be the NAV/price discount is widening and buying back shares when they're at 30% discount isn't all that bad. Their other listed entity is also buying back (DBF) with roughly the same NAV/price discount. I'm more inclined to ask up to what point they will be buying them back, rather than an ongoing buyback program at any price.
D2O Price at posting:
$1.51 Sentiment: Buy Disclosure: Held
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