Ok, you are right about the prior buyback, I found a reference to it on October 20, 2008. But I am pretty sure they are doing the buyback this time. First reason is they did it in conjunction with the dividend, which they paid. No reason to think they're not also buying. And the second reason is the bid action, I have noticed several days a huge block sitting on the bid and disappearing exactly at 3:30pm, when the company is no longer allowed to repurchase after. Now maybe this is another fund out there that is mysteriously dropping its bids exactly at this time, or maybe someone is trying to make it look like the company is buying back shares, but with such a thinly traded/watched stock, I doubt this type of shenanigans. The simplest explanation is usually the best, and here it is that the company is buying back shares.