Sasol Buying Back Shares

Another tip of the hat to Sean for catching the news that Sasol shareholders passed a resolution to buy back 10% of the company's shares. A company spokesperson attributed the move to continued operational cash flow growth and the sale of assets.

The South African fuel and chemical giant has a history of buybacks. As Sean notes, they bought back 8.8% of their share capital between 2000 and 2004.