HF Sinclair Board of Directors Authorizes $1B Share Buyback Program
Portfolio Pulse from Benzinga Newsdesk
HF Sinclair Corporation's Board of Directors has authorized a $1 billion share repurchase program, replacing all existing authorizations. The previous $1 billion program, authorized in September 2022, had approximately $5 million remaining.
August 16, 2023 | 10:41 am
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HF Sinclair Corporation has announced a new $1 billion share buyback program. This could potentially increase the stock's price as the supply of shares decreases.
Share buyback programs are generally seen as a positive signal by the market as they reduce the number of shares in circulation, potentially increasing the price per share. Given the size of the buyback, this could have a significant impact on HF Sinclair's stock price.
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