Yep. I think I used every big 4 bank, off market buyback [ except the last Wales one] . Incredibly lucrative. But they are an immoral abomination. But it is not the franking credits which are at the heart of the immorality, it is the misuse of them.
They also effectively sell off an asset[the credits] of all shareholders , cheaply to one class of shareholders. If they have lots of credits , then special dividends fairer. cheers
