Daily Management Review

Analysts: Global buyback volume in 2023 down 14% to $1.11 trillion


The top corporations in the world repurchased $1.11 trillion worth of their own stock in 2018, as show figures by UK-based management firm Janus Henderson.

That is $181 billion, or 14%, less than the 2022 estimate. 

US corporations topped the repurchase volume charts with $773 billion. Buyback volume dropped by $159 billion, or 17%. In the meantime, buybacks by Apple Inc. dropped by almost 15%, while buybacks by Microsoft Corp. and Meta decreased by nearly a third. These corporations were the primary cause of the reduction.

Last year, British companies repurchased $64.2 billion worth of shares, a 2.6% decrease. According to the research, Shell emerged as the top non-US corporation in terms of repurchase volume, accounting for over 25% of all buybacks in the nation.

A record amount of shares were repurchased by European corporations in 2023, amounting to $146 billion. Companies in Italy (due in part to Unicredit and Stellantis), Spain (Santander, Iberdrola, and Telefonica), Norway (Equinor), and Belgium (AB-Inbev and KBC) were among those that contributed to this surge.

The data from Janus Henderson includes 1,200 of the top businesses worldwide. Just over half of them carried out share buybacks in the previous year. At the same time, about half of the global buyback amount was held by just 45 corporations.

source: ft.com