Buybacks have the same effect of encouraging long-term ownership.
Given a certain amount of money, spending it on stock buybacks vs spending it on dividends returns the same amount of money to each HOLDING shareholder.
In one case, they receive a small sum. In the other case, the value of their stock goes up.
Given a certain amount of money, spending it on stock buybacks vs spending it on dividends returns the same amount of money to each HOLDING shareholder.
In one case, they receive a small sum. In the other case, the value of their stock goes up.