I'm seeing more and more of this in the market. Many companies buying stock and then awarding stock/stock options....with no real reduction in shares. That's why I no longer invest in stocks that don't do dividends. Those in 401K's and mutual funds don't realize they're getting screwed.
Share price may not have been higher, but I would have had $1.44 in my pocket and $14.40 share price...so I'd be at $15.84; approximately the same as the current share price, but with money in my pocket.
I don't believe we'll ever see a div from these guys. If they would have implemented divs rather than buybacks when they should have converted back to a RIC (no more tax losses) shareholders would have been better off, and the share price might have been higher.