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Share Buyback

Jun 07 2018

Cycles And Taxes And GICS, Oh My!

  • Jun 7, 2018

Analyzing quarterly financial results and developing insights about upcoming periods is always difficult, but the first quarter of 2018 was unusually complicated.

Dec 07 2016

Does Returning Cash Crowd Out Capex?

  • Dec 7, 2016

Companies are returning cash to investors at a level never before seen. Does the historically high level of cash being returned to shareholders crowd out the use of cash elsewhere? One wide-spread concern is that by shelling out cash through dividends and share buybacks, companies are spending less on capital expenditures. Is that a real concern?

Nov 05 2016

Can Companies Sustain Cash Payouts?

  • Nov 5, 2016

Companies are returning cash to investors at a level never before seen. Counting dividend payouts and outstanding share repurchases, the amount of cash returned back to investors crossed the $1 trillion mark for the first time in January 2016 (based on trailing twelve-months’ total for the largest 500 companies, Chart 1).

Oct 07 2014

Are We Floating In Another Share Buyback Bubble?

  • Oct 7, 2014

Share repurchase activity among U.S. corporations is garnering a lot of negative attention as aggregate dollars spent on share buybacks are nearing the all-time highs last seen leading up to the financial crisis. We take a closer look at the recent activity to see if we are in for a repeat.

Jul 04 2007

Corporate Share Repurchases Now At Record Levels...Five Reasons Why They Are Expected To Slow

  • Jul 4, 2007

Share repurchases have been a major driver in the extension of the bull market, but this month’s “Of Special Interest” outlines several factors which are likely to contribute to a deceleration in corporate repurchase activity over the next several quarters.

Oct 05 1996

How Significant Are Buybacks?...A Summary

  • Oct 5, 1996

While stock is being repurchased through the front door, additional shares are going out the back door for stock options, incentive compensation, and acquisitions.

Jun 05 1995

Worth Noting

  • Jun 5, 1995

T-bonds are now clearly in the lead in the 1995 Performance Derby. Do dividend yields matter? Polling the pros in Baltimore and Boston.

May 05 1995

Worth Noting

  • May 5, 1995

“Polling the pros” in April, adjusting stock market dividend yields for “buybacks”, mutual fund flows, looking beneath the Finished Goods PPI, and the possibility of rising inflation and interest rates.