03-22-2016, 09:53 AM
I may be in the minority here, but I love buybacks if the outstanding shares are coming down, with some caveats. When a company is undervalued, buybacks may be the best use of their cash. If a company is overvalued, then why not issue some shares to raise cash? Dividends and dividend growth is #1, but I've watched 20% of DPS's outstanding shares disappear in just a few years. I love it.