If they see a dollar they can earn, they owe it to their shareholders to do everything they can to earn it. I understand there's no legal obligation to do so,

If they see a dollar they can earn, they owe it to their shareholders to do everything they can to earn it. I understand there's no legal obligation to do so, and that companies have a number of motives and desirable outcomes, of which giving money to shareholders is but one. It has become fashionable in recent years to suggest it's all about "shareholder value", but there's no supreme obligation to pursue that.