So if I'm understanding you correctly, a dividend is just as good as a buyback from the POV of a shareholder but a buyback is preferred because it makes options holders more money. If this is the case, can you explain why there are companies that issue dividends at all? Are these companies that are paying their execs with few options?
How are buybacks a tax dodge? If they have the desired effect of boosting share price, then there will be increased taxes paid by shareholders when those positions are exited, no?
How are buybacks a tax dodge? If they have the desired effect of boosting share price, then there will be increased taxes paid by shareholders when those positions are exited, no?