Minyi Chen, COO and CFO of TrimTabs Investment Research, says Viacom, Inc. (VIAB) has been using profits from its competitive entertainment content to continue buying back stock.
“[A] company which has been in the portfolio for a while is Viacom. They produce movies, media or entertainment content. They’re a very huge buyer of their own stock,” Chen said.
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Chen says that if Viacom continues the current pace of buying back their own shares, they could retire over a quarter of their existing share supply in the next three years.
“That is huge in terms of float shrink,” Chen said. “They have been doing quite well in the past five years by providing very competitive entertainment content like movies, television and video games on the market, and they were able to use that money to buy back their shares, and they continue to do so as a form of continued profit distribution to shareholders.”
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