I generally agree (and think stock buybacks are just better because they let investors time their tax realizations), but I'll point out that the way dividends a

I generally agree (and think stock buybacks are just better because they let investors time their tax realizations), but I'll point out that the way dividends are reported makes it more public when a company is not reinvesting in growth. Perhaps stock buybacks should be reported as prominently as dividends, rather than buried in cash flow statements.