FMG Dividend, page-98

radicool,

you have been going on for months about the unfair advantage the board and management are getting through the buyback distorting EPS. When I asked you to provide proof you ran off on another tangent and started on TSR. I completely agree that TSR is a partial measure for many a listed company's REM reward structure but that is not what you have been arguing all this time.

EPS is a measure used by analysts, financiers, investors etc but not one that is utilised to reward management. (I have checked with the company of this). Years ago when I was a credit analyst we looked at EPS and where a noticeable change had occurred the first check was if the capital structure had changed and the appropriate adjustment calculation applied.  

If the board can influence TSR with the buyback then they deserve to be rewarded as all of us shareholders have benefitted by the capital gain. Because that's what is all about -  Total Shareholder Return! capital gains plus dividends. As keyhole and others have pointed out but you keep choosing to ignore is that the shares purchased and cancelled have been at a far lesser price than the current value so already they have contributed to TSR.

I've come to the conclusion that you are just a serial troll.