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At least they are cancelling the shares even worse than this is buying back stock and then sitting on it in "Treasury". A quick way of accumulating shares to be given back back to your senior staff at a later date by way of "incentive" thus merely redistributing rather than reducing the total number of shares in play.
Buy backs can mean that the company has no further acquisistions in mind, no further expansion plans...not very aspirational in fact.
I mean..with a buy back..you just buy a £20 share and take £20 off the balance sheet....so... in effect nothing really changes immediately ....on ex div payout day the cost to the company will be less though, as there are now fewer shares to pay out the div on
However, considering Shell are now buying back shares at ..say £22-£24 a pop, which they gave out as scrip dividends at £14-£18 (rough figures) during the oil price crash of 2015-2016, in a global business balance sheet sense , it is all the game of fantasy and foolery ...
yes LordAdam, a bit of a smoke and mirrors scam
Share buy backs are a smoke and mirrors scam that swaps the absolute certainty of a capital distribution by means of a dividend or capital return for the vagaries of a possible, if you are lucky and if the market is going that way, increase in the share price.
You know where you are with a dividend, you can bank on it, you can invest it, spend it do what you want with it. When the money disappears into the black hole of a buy back all bets are off, there's no guarantees, and at best you have to sell something to get your hands on any of it (incurring costs of course!).
You'll have deduced that I am no fan of buy backs!
Mike
With Shell buying back substantial number of shares this week as part of its buy back program, I am disappointed to see continual downturn in share price. The advice by all the sage's was that when a company buys back its own shares its a sign of confidence, and will reduce the number of shares in circulation which raises the value of the shares left in circulation. Nothing of the like has been evident. Therre was a quick period after Trump / Iran spat when shares his 2320p but they are now below 2200 again and seemingly can gain no traction. With oil supply steady and prices back to $62 i dont see a major ramping up of share price in short term. I hope that the crystal ball gazer who forecasts £27 is correct, he can buy my shares for 2650p and make a quick profit. Whilst good on the quarterly dividends, I now believe I need to be out of oil and gas as soon as possible as i dont see heady share price gains in the current climate. 5 years ago RDSB was 2274 and so is down 5% (approx) on today's price of 2185p. Not many traders would have kept their jobs if they returned 5% loss in five years and I believe that foregoing the decent dividends would be rewarded by finding other companies offering possibly lower didi but some consistent share price growth. Whilst decent for income investors and tracker fund / pension managers, not sure its a share to get comfortable on. Lets hope that I am wrong, but looking at the historical charts and growing pressure to reduce oil/gas consumption am not so sure.
Sold at 2240s today at a slight loss, kept on going down last few sessions. Gas prices on downward trend, market expecting poor update? Still in BP
Well my hope of seeing £24. Plus have disappeared into dust. Denfinetly going below £22 now imo. I will top up, but if it goes down on results a week on Thursday may go below £21 imo. My brother is adamant this will be £27 come June. Can't see it, but what do I know. But the trend is down ATM.