Buybacks vs Dividend payments-Which one is good for shareholders?

Both dividend and buyback are the ways company reward or pay back to its shareholders.

When it's come to dividend, its make the market expectation that the company will try to maintain or raise the dividend over time, however buybacks is one kind of reward for shareholders without committing the repeating nature.

Buybacks can also be more profitable for corporate executives than dividends. Executives which are rewarded the stock options doesn't get a dividend, but they can benefit from a buyback that pushes up the near-term or long-term stock price.

Buybacks can also be rewarding to shareholders if the company's stock is undervalued. But if the stock is overvalued, buybacks can be a waste of money.