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To: Freedom Fighter who wrote (6484)3/30/1999 7:48:00 PM
From: Brendan W  Read Replies (3) | Respond to of 78505
 
Wayne, it is my understanding that dividends and share repurchases both decrease aggregate book value. They are a return of capital and decrease the equity. My accounting is not good enough for me to tell you what the accounting transactions would be. I think it decreases the equity dollar for dollar (a dollar repurchased is a dollar decrease in book value).