What is management thinking? These buyback programs never seem to payoff. Its supposed to signal management confidence, but in this case, I think management just wants to increase its ownership % of the company.
You can spend a dividend or save a dividend, but the buyback is just a waste of money.
Thank you FDP management! My prayers have been answered. The 5 cent dividend has been reinstated! Not as juicy as the 20 cent dividends in the past, but its a step in the right direction. FDP is running out of debt to repay, so they'll have to find something to use their cash for. I bet the 5c dividend will be increased after a year or two.