Genworth Financial Authorizes Additional $350M Under Its Existing Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
Genworth Financial has authorized an additional $350 million under its existing share repurchase program. This move is expected to return value to shareholders and shows confidence in the company's financial stability.
August 01, 2023 | 5:09 am
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Genworth Financial's decision to authorize an additional $350 million for its share repurchase program could potentially boost its stock price in the short term.
Share repurchase programs are often seen as a sign of a company's confidence in its own financial stability. By buying back its own shares, Genworth Financial reduces the number of outstanding shares, which could potentially increase the value of remaining shares and boost its stock price.
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