RE:Understanding what Share Buybacks Really Do......I luv it. With a market cap of less than US $1 billion, if the company buys back 10% of it's shares every yearr, I will own the whole company in 10 years. And since the yield on my shares is > 10% , it will have cost me nothing. If I were a Carl Icahn or Warren Buffet that's exactly what I would do. Get two or three seats on the Board and push to continue the dividend and buy back shares until I owned the whole thing.