From: Chan-Yao Sent: Monday, March 12, 2012 5:03 PM
Mike 想請問您, 魔法書49頁有提到公司可以透過發股息或買回庫藏股回饋給股東, 發股息可以理解, 但買回庫藏股為什麼可以達到回饋股東的效果呢? 感謝作者:
mikeon88 時間: 2012-3-12 17:06
股權比例上升，又省稅作者:
polyperry 時間: 2012-3-14 10:07
2011 Annual Report(9/105):
If IBM were to earn, say, $20 billion in the fifth year, our share of those earnings would be a full $100
million greater under the “disappointing” scenario of a lower stock price than they would have been at the higher
price(好處1). At some later point our shares would be worth perhaps $1 1⁄2 billion more than if the “high-price”
repurchase scenario had taken place(好處2).
