Dividends in effect force you to sell while buybacks redistribute to people who want to sell/realize it. They are also more efficient tax wise. The only good r

Dividends in effect force you to sell while buybacks redistribute to people who want to sell/realize it. They are also more efficient tax wise. The only good reason to pay out dividends instead of announcing buybacks is a view that your shares are overpriced. Then you can't buy them back without facing a potential lawsuit (you are making a company buy something you know is overvalued).