RE: Buybacks2 Aug 2022 14:50
Glen doesnt cancel its buyback shares, holds in treasury, around 13% of total stock currently if i recall. They cannot pay divis on such stock however - not sure on capital repayments, so maybe thats why they pay those instead, allows business cash to be recycled?
Only benifit i can see is it reduces the risk of a hostile takeover, in that the BOD have more shares to vote against such an event - although the flip side is true in that should the BOD want to sell then they hold more % so could easier - especially with a few large holders here like Ivan.
Buybacks im not a fan off as a shareholder return. Id sooner have the cash to spend as i wish, maybe elsewhere, rather than some dubious theroetical sp 'increase' and boost to eps.