Remember we also got a 34cent/share dividend in the form of the share buy back this year. Reducing equity this year increases EPS for all the years the company remains in operation, thus improving the company's ability to pay higher dividends into the future. The opposite is true for many other gold companies who have printed shares to increase production, which at best is a gamble on the gold price. So far the gamble has paid off for some but if we get another market crash and another dollar liquidity squeeze event, that gamble may not look as good.Esh
