TEGNA Inc. Announces $300M Accelerated Share Repurchase Agreement
Portfolio Pulse from Benzinga Newsdesk
TEGNA Inc. has announced a $300 million accelerated share repurchase (ASR) agreement to buy back its common stock, aiming to return value to shareholders.
May 22, 2023 | 8:50 pm
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TEGNA's $300M ASR agreement could lead to an increase in stock price as the company buys back its common stock.
The $300 million ASR agreement announced by TEGNA Inc. is aimed at buying back its common stock, which could lead to a reduction in the number of outstanding shares. This may result in an increase in the stock price as the demand for the remaining shares increases. Additionally, the buyback signals the company's confidence in its future prospects, which could positively impact investor sentiment.
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