There are better uses of excess cash. Buybacks favour investors who want out at the expense of long term holders. If management is determined to return cash without paying a dividend, then a capital reduction is fairer to all. Just reduces your cost base (and does so to everyone equally), so no tax to pay on the cash received. $50m would have been about a 22c reduction on everyone's cost base ...
GNC Price at posting:
$8.39 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)