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American Express: Watch the Dividend

You're right Alan I am also shocked to read such a misleading article too. I am also shocked on how a good website like SeekingAlpha let people without knowledge in business financials like the writer "Gutwoski" post an article here.

Like you said repurchases also count as dividend. Actually if the stock is selling below fair value, repurchases are better since owners are getting dollars for cents, in this case is better to increase your ownership by repurchases done by management than by receiving the dividends and buying the stock yourself because of tax efficiencies.

Based on AXP last repurchases, dividends and price at 65 their yield is a hefty 6%.