PHINIA's Board Of Directors Authorizes A $150M Share Repurchase Program, Effective Immediately
Portfolio Pulse from Benzinga Newsdesk
PHINIA Inc. (NYSE:PHIN) has announced a quarterly cash dividend of $0.25 per common share, payable on September 22, 2023. The company also announced a $150 million share repurchase program, effective immediately.
August 31, 2023 | 11:32 am
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POSITIVE IMPACT
PHINIA's announcement of a dividend and a share repurchase program could potentially increase the stock's attractiveness to investors.
Dividends and share buybacks are generally seen as positive signals by the market, as they return capital to shareholders. This could increase demand for PHINIA's shares, potentially driving up the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100