They have called on managers to use large cash reserves to increase dividends or buy back shares.

他们已经号召管理者用大量的现金储备来增加股息或者买回股份。

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This comes when big railways are already using their spare cashflow to raise dividends and buy back shares.

许多大的铁路公司已经在用他们的周转现金来提高股息和买回股份。

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Buy back shares?

买回股票？

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After all, a mutual fund is always required to buy back your shares but no one is required to buy back your individual bond.

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But tax-shifting considerations may also mean that Allianz will have to issue new shares to close the Dresdner deal and buy the shares back next year.

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And prices may rise further once the company actually starts to buy shares back.

ECONOMIST: Share buybacks