Not sure what trick you're referring to. Buybacks are the new dividends; they accomplish the same thing but in a more tax-efficient manner for investors.
What is good about buybacks for investors is that you can choose how to time your sales, which can result in tax benefits. Dividends you pay tax on a schedule that might be less suitable to whatever financial massaging investors might want to engage in.
[1] https://en.wikipedia.org/wiki/S%26P_500_Dividend_Aristocrats
A bonus 1% tax on buybacks was recently added by the Inflation Reduction Act, and Biden has called for that to be increased to 4%. If the tax is high enough, more companies will go back to paying dividends.