Regular Cash dividend is where it is the "only cash payment made by corporations directly to their stockholders as dividend and are decided by board of directors which can range from zero up to any virtual amount the company can afford to pay".(Jones P. C. in Investments 10th ed.)
Periodic share repurchase is when a corporation buys back some of its own outstanding shares in the stock market. According to Brigham F. E. and Daves R. P (pg 5250, it is carried in three main ways which include; done when a firm wants to increase its leverage by issuing debt and using proceeds to repurchase stock, a firm may give its employees stocks options and when they exercise the options, the firm repurchases its stock, and finally a firm may have excess cash inflows which they use to repurchase.
Periodic share repurchase has a greater appeal to me because unlike the cash of cash dividend in which the stock price falls by amount of the amount of the dividend, the price per share does not changes when a company repurchases its stock. This means that the total rate of return for a shareholder under repurchase is the cost of equity of the firm, with a zero dividend yield and a significant increase in percent of capital gains.