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Summarize Aurizons (AZJs) on-market share buybacks since 2016. Briefly describe the process of the buybacks. Discuss the economic reasons behind the buybacks. Were the share

Summarize Aurizons (AZJs) on-market share buybacks since 2016. Briefly describe the process of the buybacks.

Discuss the economic reasons behind the buybacks. Were the share buybacks value-adding to AZJs shareholders?

Illustrate and describe the impact of the program on AZJs shareholdings, balance sheet, debt ratio, and ROE

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