RE:BuybackIdeas are different and I respect all ideas, my personal view of buyback of a company like BTE with 850M + shares outstanding is throwing money in the garbage. 75% of FCF to reduce debt and 25% to pay dividend would be the best approach, the SP can be manipulated up and down regardless of buyback and dividend, but the difference dividend makes is the cash is in shareholders' pocket and with buyback the cash is gone out of the company.