zlacker

> Buybacks do not do that any more than dividends do.

There's at least a clear relationship if the dividend is reinvested.

If the dividend is spent, though, eg by someone in retirement, then they're different. Under buybacks, the retiree would have to sell some shares to get cash, and would eventually run out. Under dividends, the retiree would be able to continuously pocket money.

>>nullho+(OP)
so sell some shares? you can still make the math work out the exact same.

if the stock goes up 10%, sell 10%. The value you hold is the same.