RE:RE:RE:RE:Q1 2023
Hopefully when they do buy back shares, they will do so at the lowest possible price.
The intent being to minimize the amount paid to reduce the number of shares outstanding.
Given that the CEO, board and executives all have their bonuses linked directly to increases in the share price, it follows they are acting for their own best interest, and yours.
I am disappointed that it appears they did not buy back any shares in March.
That said, I'm confident they know what they are doing, and their personal interest is aligned with my own (and yours by the sound of it).
When it comes to buying back, there are rules. If I remember correctly - They can't buy in the first or last 30 min. They can only buy at the Ask etc. ie, buybacks can keep a share price from falling, but can't drive it higher. These rules result in observable share price activity that suggest when buying is occuring.
Combine that with OBE's apparent refusal to respond to buy back questions, and it the result suggests it may be underway. Sooner or later, OBE will have 74 million shares, instead of 82 - making cash flow that much higher per share, and making a meaningful dividend that much easier to pay.