(06-27-2022, 04:48 PM)robkelk Wrote: Also, doesn't a stock buyback reduce the amount the company has to pay to the shareholders in the future, thus letting the company spend that money on employees (yeah, I can dream) or process modernization?
No, because a stock buyback only decreases the number of shares that can partake in the dividends, but the dividends will be payed regardless, and the total size of the dividends pool does not change relative to the total number of shares.
It just means every share gets more of the dividend paid out in absolute and relative terms.