Over a thousand of corporate America's finest spent nearly a trillion dollars repurchasing their stock last year
Pity poor executives with profits too high. It's hard for many American companies to decide just what to do with all that excess cash. Should they please income investors and raise dividends? Go on an M&A binge to grow the business? Pay down debt?
Last year corporate America chose all those paths, but more than ever before they also took another route - the stock buy-back. Altogether some 1,100 US companies announced stock repurchases, worth within a hair's breadth of an amazing $1 trillion
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