Irish publicly listed companies have spent almost €2 billion buying back their own shares this year, taking part in a global boom in companies repurchasing their own stock that has helped move markets higher. CRH led the way among Irish companies; it is, according to its most recent trading update, on track to spend about €900 million buying back its own shares this year. The programmes have supported a 31 per cent surge in the Iseq index in Dublin as stock trading for 2019 draws to a close, helping it to recover from a slump last year. They have argued that buybacks are taking place at the expense of companies investing in, and growing, their businesses. Critics also argue that buybacks drive wealth inequality, as they benefit shareholders and executives but not workers.

Source: The Irish Times December 27, 2019 17:46 UTC