Buybacks or Dividends? New Studies Dispute Which Gives the Bigger Boost
"We continue to generate ample free cash flow to ... deliver returns to shareholders through dividends and share repurchases," proclaimed Wal-Mart CEO Mike Duke (pictured). But which is better, a buyback or the cold cash of a dividend? Recent S&P data has a rather surprising answer.
Stephen Taub
December 17, 2025
Michael "Mike" Duke, chief executive officer of Wal-Mart Stores Inc., center, speaks with David Rubenstein, co-founder and managing director of the Carlyle Group, right, and Leslie Alan Dach, executive vice president of corporate affairs for Wal-Mart, on the second day of the World Economic Forum (WEF) Annual Meeting 2011 in Davos, Switzerland, on Thursday, Jan. 27, 2011. The World Economic Forum in Davos will be attended by a record number of chief executive officers, with a total of 2,500 delegates attending the five-day meeting. Photographer: Andrew Harrer/Bloomberg *** Local Caption *** Mike Duke; David Rubenstein; Leslie Alan Dach
Andrew Harrer/Bloomberg
