If they curtail the buy-back, it just means they create a cash pile that they will do something else with (so back a divs vs acquisition decision tree).
One thing we know for certain is that Stokes will not let SWM run with a lazy balance sheet - so we are left with the current buy back (a tick for share price eventually, but not everyone's cup of tea), A mid-year dividend announcement (may come into play of the share price goes "too high" and they suspend the buy-back), or an acquisition comes into the frame (where they seem to now have good discipline and so should be value accretive).
Any of the above will keep the share price moving in the right direction.
GLTA & DYOR
SWM Price at posting:
49.5¢ Sentiment: Buy Disclosure: Held
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