By declaring an ordinary cash dividend of $0.30 per share, the company demonstrates its commitment to providing consistent returns to shareholders. Moreover, continuing the extraordinary cash dividend of $0.60 per share for the second quarter is a positive sign of strong financial performance.
The initiation of the third tranche of the share buy-back program worth $1.67 billion is a strategic move. Share buybacks can enhance shareholder value by reducing the number of outstanding shares, thereby boosting earnings per share and potentially increasing stock prices. This move indicates confidence in the company's future prospects and financial strength.
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