{"id":891,"date":"2010-07-16T10:53:47","date_gmt":"2010-07-16T14:53:47","guid":{"rendered":"http:\/\/www.credittrends.com\/blog\/?p=891"},"modified":"2010-07-20T13:37:30","modified_gmt":"2010-07-20T17:37:30","slug":"cfos-making-the-same-mistake-again-stock-buybacks","status":"publish","type":"post","link":"https:\/\/www.credittrends.com\/blog\/2010\/07\/16\/cfos-making-the-same-mistake-again-stock-buybacks\/","title":{"rendered":"CFOs Making the Same Mistake Again-Stock Buybacks"},"content":{"rendered":"

As if public enterprises didn\u2019t learn their lesson the first time (see our earlier article, The Folly of Share Buybacks<\/a>), we are again seeing stepped-up buyback activity. For the S&P 500, during their latest reporting quarter, the firms in aggregate bought back $80.8 billion in common and preferred stock versus $67 billion a year earlier, a greater than 20% increase. As of the latest reporting period, S&P firms in aggregate have reported the following:<\/p>\n

\"\"

Interesting how cash dividends have\u00a0deceased as a whole.\u00a0Bristol-Myers ($65 MM), Deere ($117 MM) \u00a0and Goldman Sachs ($182 MM) were a few paying lower dividends. The\u00a0fall\u00a0in long term debt issuance is a reflection of the build in cash\u00a0resulting\u00a0from increased free cash flow.<\/p>\n

Disclosure: No positions<\/p>\n

Earlier Post: The Folly of Share Buybacks<\/a><\/p>\n

Kenneth S. Hackel, C.F.A.
\nPresident
\nCT Capital LLC<\/p>\n

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For additional information on this type analysis, pre-order- \u201cSecurity Valuation and Risk Analysis<\/a>\u201d out this fall from McGraw-Hill.<\/p>\n

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As if public enterprises didn\u2019t learn their lesson the first time (see our earlier article, The Folly of Share Buybacks), we are again seeing stepped-up buyback activity. For the S&P 500, during their latest reporting quarter, the firms in aggregate bought back $80.8 billion in common and preferred stock versus $67 billion a year earlier, […]<\/p>\n

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