We know that the company has two ways to return profits to shareholders: dividends and share buybacks. I have noticed that your company has been very active in using share buybacks over the past few years. So, I would like to know why you did the share buyback instead of distributing only dividends? What is the interest for you to buy back your own stock? Also, what criteria do you use to make this allocation between share buybacks and dividends? I know that you have an employee stock ownership plan, but can you give me other reasons, because I have noticed that there is a significant gap between your share buyback program and the needs of the employee stock ownership plan.

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Continue ReadingWe know that the company has two ways to return profits to shareholders: dividends and share buybacks. I have noticed that your company has been very active in using share buybacks over the past few years. So, I would like to know why you did the share buyback instead of distributing only dividends? What is the interest for you to buy back your own stock? Also, what criteria do you use to make this allocation between share buybacks and dividends? I know that you have an employee stock ownership plan, but can you give me other reasons, because I have noticed that there is a significant gap between your share buyback program and the needs of the employee stock ownership plan.

I would like to know why you chose to distribute profits in both forms rather than just dividends, i.e. why you chose the share buyback? Also,what criteria do you use to make this allocation between share buybacks and dividends?

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Continue ReadingI would like to know why you chose to distribute profits in both forms rather than just dividends, i.e. why you chose the share buyback? Also,what criteria do you use to make this allocation between share buybacks and dividends?