iceberg dead ahead, page-12

PedroDavis..another in favour of the buyback,fair enough,we all have differing opinions,BUT, please explain to me how this buyback has supported the sp given that at the start it was in low 90,s and the other day got back to it's 12 mth low of 65c.
If this buyback is supporting the sp like a few posters say,then without it the sp would be in the 50's.
I know it's not necessarily done to support the sp but obviously Mcr can't think of anything worthwhile to spend some cash on.
On the face of it, a special divvie would have been better.
Monarks post has summed things up very well.