The Australian sharemarket is on track for its single biggest year of buybacks, unleashing big paydays for investors, despite the ASX reaching record levels.

Surplus capital is washing around corporate Australia. It’s easy to hand it back to investors, but it’s time to think harder.

The sharemarket has climbed 6 per cent in the last five weeks and brokers expect the ASX to keep breaking record highs through the reporting season.

The Australian sharemarket is on track for its single biggest year of buybacks, unleashing big paydays for investors, despite the ASX reaching record levels.