After our previous investigation (tax impact) a buy back would be to prefer over dividends for present stock owners. Only reason to instead do dividend is if it will attract new investors which I do not know is the case really.
Regarding timing of buyback/dividend my opinion is to not rush it. We need 1 -2 years with no dilution first. And then again imo there is only one reason for giving dividend/buy backs at this point and that is to gain credibility.
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