Common Sense to Shareholder Return Mix.When share price is "high", stop buybacks and save cash for future dividend increases or buybacks.
When share price is CRAZY "low", buyback shares.
Remember, what's "undervalued share price" for buying shares for investing (Buy and Sell).... is not the same for BuyBacks (Buy and cancel).
Buybacks should only be done when share price is CRAZY CRAZY LOW/undervalued.