Steve they soak up to 10% of the daily volume which allows for natural liquidity in its trading, at the end of the day, they still have the cash on the balance sheet if the shares aren't bought back with haste.
Whilst it looks slow, they soaked up $193M or ~2% of the company in 1H FY24. With up to another $400m this CY. IMO it's better to remain cyclical with the buyback, given the cyclicality of the business/industry.
BSL Price at posting:
$20.54 Sentiment: Hold Disclosure: Held
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