Corporate America gives out a record $1 trillion in stock buybacks
Corporate America celebrated the first full year under the new tax law by rolling out a record-setting $1 trillion of stock buybacks.
US companies, led by Lowe's (LOW) and AbbVie (ABBV), rewarded shareholders by unveiling $34.4 billion in buybacks last week, according to TrimTabs Investment Research.
That lifted repurchase announcements above $1 trillion for the first time ever, TrimTabs said, exceeding the prior record of $781 billion set in 2015.
The buyback boom has been fueled by strong economic growth and the corporate tax overhaul that was signed into law a year ago.
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