
dividends vs. buybacks
As far as I care, dividends are far superior for investors. Even a penny in dividends is better than zero.
McKinsey pro-dividend argument: https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/the-strategy-and-corporate-finance-blog/share-repurchases-and-dividends-which-create-more-value
Morningstar on buybacks and shareholder yield: https://www.morningstar.com/stocks/why-total-shareholder-yield-matters-more-than-dividends