It is typically not legal to pay out (via dividends or share buybacks) to different investors of the same class in differing amounts. I'm not enough of a tax l

It is typically not legal to pay out (via dividends or share buybacks) to different investors of the same class in differing amounts. I'm not enough of a tax lawyer to say if you can do a miniature version of that by buying back stock of a US company listed on foreign exchanges without repatriating capital, but after arbitrage you would expect the effect to ripple back to the US-listed share price by the same amount.