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@ekmokaya
Erick Mokaya
$16.1M follower assets
34 following312 followers
The thinking on buybacks and dividends at Chevron
"We do not do buybacks to manage dividends. Dividend -- absolute dividend load is an outcome. It's not a reason that you would do buybacks. Our dividend growth expresses confidence in the ability to grow free cash flow at mid-cycle prices, and it is a long-term decision, a long, long, long-term decision. We haven't cut the dividend since the great depression. Pierre mentioned, we've increased the payout 36 years in a row now. Buybacks are different. They signal confidence that we're going to generate excess free cash flow, where we've got excess balance sheet capacity, which we have significant capacity in the current commodity cycle. And as we satisfy our commitments on the dividend, our reinvestment plans in a disciplined manner to grow free cash flows and maintain that strong balance sheet, we've got the capacity then to buy shares back through the cycle. An outcome of buybacks is a lower absolute dividend, but it's not the driver. And so, I don't want -- there should be no confusion about that. We've got confidence in our dividend increases, whether we're buying shares back or not. We wouldn't increase the dividend if we didn't have that confidence. And so the two are not linked in that manner"

JFrog is an interesting company $FROG
"We were profitable in 2020. Then in 2021, we acquired 2 companies, and that's how our expenses significantly increased and areas of security that was primary investment.
And back then, we committed that we will return to profitability within the 4 quarters, which we did" - CFO
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Intel is ramping up Opex:
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@diggity11/01/2022
i imagine some of this increase in opex intensity is due to revenue decline as well? would be curious to see the mix between r&d and sg&a.
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