Quanta Services Authorizes New $500M Share Buyback Program
Portfolio Pulse from Lekha Gupta
Quanta Services (PWR) has authorized a new $500 million share repurchase program, effective upon the expiration of the existing program. The company also declared a quarterly dividend of $0.08 per share, payable on July 14, 2023.
May 24, 2023 | 12:28 pm
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POSITIVE IMPACT
Quanta Services (PWR) announces a new $500 million share buyback program and a quarterly dividend of $0.08 per share.
The announcement of a new share repurchase program and a dividend payment is generally seen as a positive signal for investors, as it indicates the company's confidence in its financial position and commitment to returning value to shareholders. This is likely to have a positive impact on PWR's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100