[georgeecollins]

The best excuse for buybacks are that they are "tax efficient" which is another way of saying they are about tax evasion. I don't care how you feel about tax rates, if you think corporations should pay less taxes lower the rates. We just did that in the US.

Less legitimate (but I would argue as common) reasons are to prevent excessive dilution from stock compensation plans and to prop up the value of shares tied to compensation packages. Studies show that companies buy shares when the price is high, so I doubt on the whole shareholders benefit. It feels good to see a stock go up, but dividends are nice too.

[downerending]

Tax evasion is a crime. This is tax avoidance, which is not, and which we all do to varying degrees.