Valero Energy Corp Board Authorized Co To Repurchase Shares Of Outstanding Common Stock For A Total Cost Of Up To $2.5B
Portfolio Pulse from Benzinga Newsdesk
Valero Energy Corp's board has authorized the company to repurchase shares of its outstanding common stock for a total cost of up to $2.5 billion.
September 15, 2023 | 8:18 pm
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Valero Energy Corp's board has authorized a share repurchase of up to $2.5 billion, which could potentially increase the stock's value.
Share repurchases often lead to an increase in the stock's value as they reduce the number of shares outstanding, thereby increasing earnings per share. This could potentially lead to an increase in the stock's price.
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