Philips Plans To Repurchase Up To 7.1M Shares To Cover Long-term Incentive Plans
Portfolio Pulse from Benzinga Newsdesk
Philips plans to repurchase up to 7.1 million shares, representing approximately EUR 132 million, to cover long-term incentive plans. The repurchases will be executed through forward transactions in Q2 and/or Q3 of 2023, with delivery expected in 2024 and 2025.
June 14, 2023 | 8:33 pm
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Philips' planned repurchase of 7.1 million shares for long-term incentive plans may have a positive short-term impact on its stock price.
Share repurchases often lead to a positive short-term impact on stock prices, as they signal confidence in the company's future and reduce the number of outstanding shares. In this case, Philips' planned repurchase of 7.1 million shares for long-term incentive plans may lead to a positive short-term impact on its stock price.
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