I read that a company will do a buyback if it feels that its shareprice is undervalued.... (also improves EPS too)
I guess that we can forget the heady days of 85p but maybe 70p next year is possible, given that it got there twice after the referendum?
Like a lot of people I really love the strong divis and the price looks like a bargain at the moment. I still don't really understand whats been pushing the price down... could it really go much lower (like under 50p)?
Can anyone explain the reasoning behind buybacks? I can see it means less shares in circulation and of course it will force the share price up a bit, but given current downward pressures, won't this just be a temporary fix?