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What we learnt this week: bumper returns mask uncertainty

Billions in dividends and buybacks are brilliant, but they largely belong to the past. And profit season isn’t providing lots of clues about the outlook. 

Earnings season is already delivering for investors on a grand scale.

A couple of weeks after Rio Tinto showered shareholders with a $12.4 billion half-year dividend, Commonwealth Bank joined the party with $10 billion of returns, including a larger-than-expected $6 billion share buyback, and Telstra announced a $1.35 billion buyback on Thursday.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com

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