[Retric]

Buybacks literally hands money to current investors. They can only buy shares from people who own shares Ie investors.

Individual investors get three options they can some shares and maintain the exact same percentage of the company making this equipment to a dividend, they can liquidate more shares which a guaranteed buyer propping up the price, or they can avoid selling shares and simply own more of the company. The final option is more tax efficient because there’s no taxable event unlike a dividend where you pay taxes before buying more stock.