Stock buybacks are under attack, but they aren't the only thing Union Pacific does with its money, Union Pacific CEO Lance Fritz says.
Stock buybacks are under attack — but they really may just be misunderstood, Union Pacific CEO Lance Fritz suggested on Wednesday.
A number of things happen with that money — and the most important is to make sure that the business is healthy, Fritz said."The first thing we do with it is pay wages. We buy stuff. We make sure we've got the right capital structure in place. We make sure we are investing in the railroad. That's the vast majority of the use of our cash."
"When there is cash left over, we buy shares because our shareholders also like the tax-efficient method of returning dollars to them," Fritz said."We do all of that, and we'll continue to do all of that."
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