Seadrill's Board Approved a Share Buyback Program of up to $250M Shares
Portfolio Pulse from Benzinga Newsdesk
Seadrill's Board of Directors has authorized a share repurchase program that allows the company to repurchase up to $250 million of its outstanding common shares.
August 15, 2023 | 7:40 am
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Seadrill's share repurchase program of up to $250 million could potentially increase the stock's value in the short term.
Share buyback programs are generally seen as a positive signal by the market as they reduce the number of shares outstanding, which can increase earnings per share and, consequently, the stock price. Therefore, Seadrill's announcement of a $250 million share buyback program could potentially increase the stock's value in the short term.
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