Where does the dividend and repurchase money come from?

The money for stock dividends comes from the company's profits. When a company repurchases shares, the money spent is the undistributed profit of the company, that is, the provident fund.

Although both repurchase and dividend are cash outflows for the company, dividend is the cost that can no longer create profits after spending cash, while repurchase is the opposite, and reinvestment is expected to create considerable income. The cost of repurchase now may be the high-return income in the future. In short: dividends reduce corporate profits, while buybacks increase corporate profits.