S&P 500 Capital Allocation – Dividends, Buybacks and Capital Expenditures 2018 corporate tax cut boosted dividends and buybacks, but not capital expenditures. Image: Oxford Economics
Financial Conditions and Capital Expenditures Easier financial conditions don’t boost capex, amid the current uncertainty over tariffs and the slowdown in global economies. Image: Goldman Sachs Global Investment Research
S&P 500 – Buybacks, Dividends and Capital Expenditures 2018 corporate tax cut boosted dividends and buybacks, but not capex. Image: Deutsche Bank Global Research
U.S. Corporate Profits, Capital Expenditures, Dividends and Buybacks What would happen if U.S. companies reinvested instead of buying their own shares and paying dividends? Image: Financial Times
Stock Buybacks Topped Capital Expenditures for the First Time since 2008 Thanks to corporate tax cuts, stock buybacks hit an all-time high and topped capital expenditures for the first time since 2008. As a reminder, 2008 was the start of the global financial crisis.
S&P 500 Operating EPS vs. CAPEX Capital expenditures are expected to accelerate into 2022 and could potentially increase productivity. Image: J.P. Morgan Asset Management