Bullet Point – Buybacks Not Yet On The Table
Karmazin indicated that the company will be under leveraged in 2013 and stated that returning capital to shareholders at the next Board Meeting. This would seem to indicate that share buybacks and/or dividends are not going to happen in the immediate future. Again, expect tepid reaction to the call today.
Even the fact that you were off base with your prediction that buy back would be the larger issue discussed on this call….what was conveyed in this call was so good concerning the companies present and future it should by itself move this stock up well beyond where it closed yesterday. If it does not I don’t know what to think about it all to tell you the truth.