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American Capital Agency Corp. Message Board

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  • l3l_00lvl l3l_00lvl Oct 30, 2012 11:29 PM Flag

    Buyback Program

    This is exactly what I was saying earlier; So long as the buyback is below the BV per share than the percentages should work out so that the number of shares decrease by an amount that increase the resulting BV/share at the expense of a decrease in assets.

    The same logic works with an SPO doc; If you issue additional shares at an amount above BV it is acreative you not only increase the assets but the BV per share also increases. Instead of gaining additional shares at some value above BV you are getting rid of them at some level below.

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