and for the dummies teaching me finance - i studied actuarial,...

and for the dummies teaching me finance - i studied actuarial, have a masters, worked in fin svs for almost 2 decades...but what would i know about financial theory?

companies (top tier) i have worked for that structure entities and list them do so by leveraging 10 fold on their assets, borrow to the hills even down to their nails to extract max $$$ to pay shareholders divis - why?! because yield drives shareprice growth and the mkt laps it up in droves. look at mac airports, look at toll groups, look at the banks. common theme = divis!! BHP knew this, wanted a progressive divi scheme......look at IAG, paid a special divi now, how good is that?! mkt luvs it....

not stupid buy-backs. useless time waster, yields zero benefit.

we are not a buffet investment house. he re-invests at a return higher than the cost of capital - thats the only way it would work to our benefit. agree with earlier posts, a buy back implies "we dont know how to earn anything on this additional capital...so we'll simply waste it on capital mngt"

i'll tell you a better outcome, pay it back to us!!! simple.