There is a significant difference between repo and divi. Repo takes away from existing float where as dividend is returned PER SHARE. The difference could be mo

There is a significant difference between repo and divi. Repo takes away from existing float where as dividend is returned PER SHARE. The difference could be more or less "technical" in a flat market but it's significantly more advantageous to do repo in a bull market. And it's not like investors fully reinvest divi especially in current ETF/index environment. This is all from an investment perspective and it isn't necessarily a bad thing since the companies pursuing repo strategies are basically doing what their shareholders prefer to do with excess cash. HOWEVER, I believe there's more to it than just shareholder returns. I posit current wave of repo has contributed to increasing market concentrations across the board and that will ultimately lead to negative monopolistic behaviors.