What is the aim of the buyback?, page-64

I think your extracting the Michael now,but i will play along.You are comparing two completely different beasts,with a capital return payment you are just getting some of you original money returned and if your shares are still listed your cost base will drop by same amount.A dividend on the other hand is a share of the profits paid to you and the underlying shares still remain and at the same cost base.Hopefully it continues on and your will get more dividends into the future.Off course if the dividends keep coming and possibly rise others want to get a piece of the action and thus your shares become more sought after and price appreciation should occur.