mgt did the right thinig.long term. the buyback will shrink equity and create longer term value.
sure everyone is po ed at the cut and stock price decline but its yielding 6 5 % and 5 .25 on the old 41 price. Buying stocks yielding much higher in the mkt is always a red flag (ie risk). As for the analysts, they're all idiots. As the stock goes up they raise their price target higher than the mkt, when a stock goes down they lower their ratings . I'd rather buy when everyone is selling than buy when everyone else is. BTW SDaavis can always e spun off the way PFE did with ZTS
This stock has been dead money for awhile now. I own it and still don't see the value that this would add back to it. Kill what share price it has had and cut the divie just to buy back shares. Where does this add share owner value?
Thyey DID NOT do the right thing
The right thing was to never have paid such a
high div in the first place
Now they have wiped out billions in equity
Glen Post makes $3.5mm/yr. He couldn't care
less about the little guy. Those retirees who
are now much poorer while tey struggle to survive
Mn message is to Mr,Post & the board
A big FY - go rot in hell