Comcast investors talking buybacks, dividends

I'd certainly like to see Comcast repurchase shares. (I own the Special Class A shares trading under the symbol CMCSK on NASDAQ.) Bloomberg is running a report that shareholders are talking about the company doing buybacks and paying dividends:

In October, Comcast increased a stock buyback program by $7 billion, bringing the total to as much as $8.2 billion. It set no time period for spending that sum. Comcast has repurchased $9.2 billion in stock since 2003. Comcast should buy more, said Jordan Posner, senior portfolio manager at New York-based Matrix Asset Advisors Inc., which owns 2.2 million shares.

"The cable systems have actually been pretty well run,'' Posner said in an interview. "I do fault Roberts for not being as aggressive in promoting shareholder value as he could have been.''

This about paying dividends:

"They could drop this concern about being a large borrower,'' said Leon Cooperman, chairman of Omega Advisors Inc., a New York-based investment company that bought Comcast stock last year and held 5.7 million shares as of Sept. 30. He suggested "a meaningful, ongoing cash dividend'' of 75 cents a share.

This report comes on the heels of Chieftain Capital Management's letter last month. Let's see if there's anything building here.           

Comments

[MT]

any plans to do a Takefuji update?

[John]

MT: No plans to or not to. If anything pops up, I'll post it or about it. In the meantime, I continue holding Takefuji and Aiful.