one key thing is a company returning excess cash as dividends is an indicator that it has lesser return expectations from new business opportunities. Typically very large big moat companies with stable growth give out dividends for their shareholders who are typically blue chip investors. Companies do buyouts when share price is low and the board feels its a better way to increase stake of existing shareholders.

all iconomi is doing is that it is using part of a very high maintainence fee it charges (3 %) to do the buy back.