There are limits of how much buy-back you can do.
Eg. you have $10m to pay out.
As a dividend that's easy.
As a buy-back, maybe you find that the SP is increasing too much after $1m, and now you're close to over-paying, wasting money.
For the buy-back to continue, people have to loosen their grip on their shares - stop being long term holders, and put their shares up for sale.
If most people are holding, then they have to limit the buy-back and do a dividend too.
BUYBACK 50% of stock approval at AGM - Awesome!, page-11
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Last
$1.68 |
Change
0.005(0.30%) |
Mkt cap ! $433.0M | |||
| Open | High | Low | Value | Volume |
| $1.68 | $1.69 | $1.65 | $694.0K | 416.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 10546 | $1.66 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.68 | 6584 | 3 |
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| Last trade - 16.10pm 18/07/2024 (20 minute delay) ? |
| KCN (ASX) Chart |