The Secret to Sirius XM's Success Is Buybacks
Sirius XM Holdings (NASDAQ: SIRI) is getting hungry for its own stock again. The satellite radio monopoly's board has authorized another $2 billion in share buybacks. Sirius XM has had a voracious appetite for its own cooking over the years. The board has authorized $16 billion in repurchases, and it's not just lip service.
Sirius XM's been gnawing away at its gargantuan share count over the years, and it's done more than just improve its earnings on a per-share basis. Sirius XM's stock has been a steady climber. It has delivered positive investing returns for 11 consecutive years, so the buybacks have achieved more than just a way to return money to its shareholders.
Image source: Sirius XM Holdings.
Source Fool.com
