Primo Water Corp Board Announces $50M Share Buyback Program
Portfolio Pulse from Benzinga Newsdesk
Primo Water Corp's Board of Directors has authorized a new $50 million share repurchase program, replacing the previous one that was set to expire in August 2023. The company's common shares may be repurchased in open market or privately negotiated transactions through the NYSE.
August 10, 2023 | 10:36 am
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Primo Water Corp's new $50 million share buyback program could potentially increase the stock's price as it indicates the company's confidence in its own stock.
Share buyback programs are often seen as a sign of a company's confidence in its own stock. By buying back its own shares, the company is effectively investing in itself, which can be seen as a positive sign by investors. This could potentially lead to an increase in the stock's price.
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