Shareholder yield
Dividends plus buybacks as a percent of market cap: all the cash returned to owners.
Worked example · a round-number company
Dividends$200M+Buybacks$300M=Cash returned$500MCash returned$500M÷Market cap$10.0B=Shareholder yield5.0%How to read it
↑Higher is better. As long as it is paid from free cash flow rather than new debt.
Keep in mind
- Buybacks that only offset shares issued to staff don't shrink the share count.