Terry Smith launches an attack on share buybacks

first_img Share whatsapp Show Comments ▼ Terry Smith launches an attack on share buybacks MAVERICK investor Terry Smith attacked share buybacks as a tool to destroy shareholder value and called for a review of their use yesterday. Smith, an outspoken financier who launched fund manager Fundsmith last year, attacked the practice of using buybacks to raise companies’ earnings per share figure by cutting the number of shares in circulation.“Most share buybacks destroy value for remaining shareholders,” he said. “Simply by executing a share buyback rather than paying out dividends, companies can inflate their earnings per share and are almost universally seen to have created value for shareholders when mostly they clearly have not.” Smith, who is also chief executive of broker Tullett Prebon, called for more analysis of the causes of share buybacks. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Thursday 14 April 2011 8:58 pmcenter_img Tags: NULL More From Our Partners Man on bail for murder arrested after pet tiger escapes Houston homethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFort Bragg soldier accused of killing another servicewoman over exthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comMark Eaton, former NBA All-Star, dead at 64nypost.comKansas coach fired for using N-word toward Black playerthegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com KCS-content whatsapplast_img

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