Share repurchases have seen four straight quarters of increases and hit a record $806 billion in 2018, according to S&P Dow Jones Indices.
div > div.group > p:first-child"> The total value of share repurchases by companies surged to a record $806.4 billion in 2018, up 55 percent from a year earlier, according to new data from S&P Dow Jones Indices. The record was more than 36 percent higher than the previous high watermark hit in 2007.
It's a common practice by publicly traded companies. Buying their own stock decreases the amount of outstanding shares in the market. Fewer shares out there means the remaining ones are worth more. It boosts earnings per share and is often used as an alternative to dividends. Critics say the move enriches stock-owning executives and increases income inequality.
In a tweet, former Goldman Sachs CEO Lloyd Blankfein challenged that premise and said"the money doesn't vanish," he said."It gets reinvested in higher growth businesses that boost the economy and jobs. Is that bad?" Sen. Sanders responded that it doesn't vanish —"it increases the wealth of billionaires like him."
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