RE:StrategyShare buybacks improve all of the metrics that determine the size of managment year end performance bonuses so expect record compensation this year, on top of the $billion spent buying back the shares. And always buying back the shares at the higher prices. Bought back none when sp was $15. And if oil pulls back, and it always does, to 60s, 50s?, then sp will be in the teens again but NCIB cash will have been spent on shares $25 and above. If they feel the need to buyback shares put that money aside until oil and share price tank, then buy back.
And of course if oil price pulls back they will say that they were going to increase the divy in Q3 but cant now due to lower oil prices. Management wins, shareholders see nothing in divy increase at oil over 70.