But the portion of buyback’s should be lowered, other shareholders who don’t want to dispose of their shares should be entitled to receive a return of capital as a distribution.
Like I mentioned in a previous post, in the past a shareholders was able to get dividends and on occasion a distribution of return of capital.
They shouldn’t have to forego their entitlement, simply for pleasure of large shareholder or the T20.
Giving a CR to all holder’s is a fairer distribution of excess funds of which I’m confident that most retailer holders would support.
This ridiculous trend initiated by the, ‘Institute of Director’s” has been going for numbers of years and needs to be curbed!
Basically, the company is acting as an unauthorised tax advisor who knows what is best for me without my approval.
The BS mantra that buyback’s is the most efficient way, is a con job perpetrated on mum and dad investor’s.
WHC Price at posting:
$7.10 Sentiment: Hold Disclosure: Held
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