Cemtrex Announces Share Repurchase Program Of 2.3M Shares Of Its Series 1 Preferred
Portfolio Pulse from Benzinga Newsdesk
Cemtrex has announced a share repurchase program of 2.3 million shares of its Series 1 Preferred stock. This move could potentially increase the value of remaining shares by reducing the number of shares outstanding.
August 23, 2023 | 1:10 pm
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Cemtrex's share repurchase program could potentially increase the value of its remaining shares by reducing the number of shares outstanding.
Share repurchase programs are often seen as a sign of a company's confidence in its own stock, and can lead to an increase in the stock's price as the number of shares outstanding is reduced. This makes each remaining share represent a larger slice of the company, potentially increasing their value.
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