According to Screamer 1.0 (atleast Lawrie never shouted publicly in town halls), $1Billion has been set aside for shares buy-back. That is approximately 30million shares. Let us see how long will this financial engineering to kerp the stock afloat going to last.
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Quarterly Connect Town Hall Feb 2022 replay taken down, Wonder if the EMEA Town hall will be any better?
11% wiped off of the shareprice because the market believed DXC was exposed to Russian based problems, now we are "exiting Russia"
I can't imagine $1bn of share buy backs will do much to prop that up.
Literally money down the drain.
Meanwhile we employees all struggle from yet more inflation caused by war.
People First (please!) M2!
I think the plan was to prop up the share price to secure M2s contract renewal, which is due in September I guess as 3 years have passed by then. Unfortunately the whole market is about to tank, so plan might not play out...
Yep Mikey No 2 and Stake Cutter 2 likely won't give the $1 billion to their hard working grunts on the ground - received a paltry increase or not at all since being here.
Likely to use the $1 billion as share back temporary boosting its share price before cashing in and saddling the Dxc entity with so much debt that next Ceo will need to cut and slice the company, selling what remaining profitable bits on and leaving carcass of shell of company to soldier on for 1-2 years before going bankrupt. Reminds me of mismanagement of Pan Am and it's final days - with external forces making situation worse and denting share price and profitability of the company.
Let's hope Mike'y no 2 Mr angry 1.0 and Stake Cutter don't raid our ever decreasing pension fund - DXC and other shares are sliding due to Mr P, ever increasing inflation
Likely financed by the debt they were trying to reduce, which will reduce cash-flow (again). But if there's no DXC growth, you could argue what's the point of sitting on all that shared equity anyway and having to pay everyone dividends when there's nowhere to grow into (or you have a leader who can grow their business)?
I am guessing they are trying to get the books to look nice for June's end of year statement and believing it to be undervalued stock they might still be believing that buying at market rate they will make a nice wad of cash when the share price goes up (which it will as a result of doing this) and they can award themselves in the Autumn.
I'd fatten it up and sell it off before anyone realises its true intrinsic value. They missed out on the ATOS deal. Bet they've been kicking themselves ever since!
Take 75% of that money and divide by 130,000 employee's and each and every one of us would get a one time bouns of $5, 769.00 that would really help us all out.
Buybacks should be illegal as they mainly benefit the executives as it artificially rasies the stock price!