The Meb Faber Show · Friday, October 2, 2026
Meb Faber presents data showing that for S&P 500 companies, buybacks accounted for roughly $0.60 of every dollar returned to shareholders in the 12 months ending September 25th. This contrasts with approximately $0.60 billion in dividends, illustrating the dominance of buybacks in capital distribution.
“According to S&P Global, for S&P 500 companies, buybacks crossed a trillion over the 12 months through September 25th. paired with about $660 billion in dividends.”
“Roughly $0.60 of every dollar returned to shareholders was through buybacks. So focusing on dividends alone means you missed most of the story.”