After the demerger, woodside shares fell a bit. I purchased some more at about £17 on the drop. . I have now sold all my shares at £21. They were superfluous for my portfolio, as I am already a BP and SHELL shareholder.
There is no limit to the share price if 10% of shares are bought and cancelled every year. Just in the current 3 month buyback, about 3% of shares would have disappeared
cook share buybacks are to reduce the share count .The market determines a share prive. Lloyds have a progressive dividend policy. The prospective forward yield at current prices is about 5.4%. In addition the current buyback is returning about a further 6% to shareholders.
sb without the share buybacks of 2018, 2019 and the current programme there would be about 75.5 Billion shares in circulation instead of the soon to be about 67.5 Billion.
Instead of about 67.5 Billion shares in circulation (at end of programme) without recent buybacks there would have been about 75.5 Billion shares in circulation, meaning a decent beneficial differential for shareholders.
T ''Holding the number of shares it issue at roughly the same figure year after year..?''
No clearly 67.5 Billion shares is a lot less than the number of shares in issue since ja year after the formation of LBG. Lloyds had not been in a position for a number of years because of the GFC and PPI to undertake substantial share purchases, The current programme is greater than that of a combined 2018.2019 programme where a total of less than 3.5 Billion shares were bought.