Summary
Faced with tighter credit conditions and slowing economies, UK companies will be forced to rein in bumper share buybacks in favour of dividend payouts.
US investment bank Morgan Stanley predicts buybacks will fall by about 35 per cent to pounds 20 billion in 2008 - the lowest for four years.See the full content of this document
Extract
Buybacks to Go On the Back Burner ; Economy
"We have seen massive cash returns to investors over the last few years from both dividends and buybacks," Morgan Stanley UK equity strategist Graham Secker said....
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