Share Buybacks on the Rise: Understanding Their Use
Actively Speaking Podcast
Introduction
John Tobin: Share buybacks are just one of the ways that a company can return capital to the owners of the business. The excess cash flow that can't be deployed profitably should be returned through dividends, share buybacks, or debt reduction. If companies use cash to invest and they're not earning a return above their cost of capital, it's value destructive.
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