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The "up to" has its own fine-print qualifications, and the value of the buyback drops steeply over time.
As a bartender, she knew her customers' names and what they drank, and the value of the buyback in inspiring loyalty.
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In the first case, the value for the buyback will be based on the Clean Trade-In Value published in September 2015 of the NADA Used Car Guide.
But the value of share buybacks has vastly exceeded the sum of bonuses.
At that price, it has a market value of $233.2 billion, so the buyback accounts for 17.2% of its capitalization.
Assuming the buyback increases the value of the company's remaining shares, then shareholders who need cash can sell some shares and pay a lower capital gains tax rate on the proceeds than they would have paid had they received cash dividends.
David Fried, editor of the Buyback Letter, focuses on value stocks doing stock buybacks that reduce shares outstanding.
One reason companies that issue a lot of options prefer stock buybacks to dividends is that while buybacks may raise the market value of the stock and thus increase the value of an outstanding option, dividends are less likely to do so.
The value of buybacks for nonfinancial firms last year was $260 billion, up from $110 billion the year before and only $60 billion in 1996.
On Dec. 3, the terms of the buyback were announced.
The city touted the success of the buyback with a press conference on Tuesday.
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