Not really.Less shares in circulation drives the value up of the...

Not really.

Less shares in circulation drives the value up of the shares still in the market (if no other factors come into play) as the financials of the business are no different than they were prior to the buyback, just less shares available on market.

Also less shares to have to pay the same profit to via dividends.

So theoretically, yield goes up and the share price will usually follow to meet that happy medium.

My understanding of a share buy back anyway.