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McCormick & Company, Incorporated Message Board

  • premiumpmpm premiumpmpm Apr 3, 2013 5:21 PM Flag

    5% grower at at 25 PE....why would they buy back stock!

    Rookie financial mistake!!

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    • They buy the common and hold it in Treasury to give to employees as part of their compensation plans. They also buy and sell a mix of stock between the regular common and the voting class shares MKC-V. It's not rookie if they get to give their employees shares without dilution to all shareholders-- they can use the money to put into their 401k's and pensions subject to low interest rates or they can use it to buy and distribute shares. Obviously management believes their stock, even if bought up here, will still return solid gains for themselves and their employees-- it's a vote of confidence by proxy. Just that the process seems a bit strange.

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