Waterdrop Inc Board Approved a Share Buyback of up to $50M in Twelve-Month Period Through September 6, 2024
Portfolio Pulse from Benzinga Newsdesk
Waterdrop Inc's board has approved a new share repurchase program, authorizing the company to buy back its own ordinary shares in the form of American depository shares with an aggregate value of up to $50 million. The program, which will run for a twelve-month period through September 6, 2024, will be funded by existing cash on the company's balance sheet.
September 07, 2023 | 10:09 am
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Waterdrop Inc's new share repurchase program could potentially increase the company's stock price in the short term 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 reducing the number of shares in circulation, buybacks increase the earnings per share, which can lead to an increase in the stock price. Given that the program will be funded by existing cash, it also indicates that the company is in a good financial position.
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