RE:Share buybacks2 things...1. They have to do something withthe mountians of cash lying around so share buybacks are it. Why pay the loyal shareholder anything extra in form of increased or special dividend? Number 2. In the current uncertain market, investment dollars are moving around and searching for yield. Since WFG doesnt deliver those investors (who could help the share price by buying it) simply ignore WFG and go elsewhere. Once again the common loyal shareholder is left holding the bag. The current board doesnt see it that way. A change is desperatly needed....good luck with that!..................
Frost19 wrote: I see WFG increased the share buybacks tremendously once the share price dropped below $110 in mid March.
Last 2 weekends ended with about 120k shares bought per day! That’s over 1% of the entire company!
We won't see April's numbers until May but as the share price has continued it's decline, I am guessing they are buying even more at these levels.
The share price dropping sucks but the share price always moves up and down for macro reasons that the company can't control. All management can do is be efficient with the share buyback program and they have been doing great at that.
I've owned gold companies that bought back shares in the recent couple years at the high point of share price and it just felt like a waste so it's nice to see it being done properly that way at least.