Sylvamo Plans Additional $150M For Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
Sylvamo Corporation plans to add an additional $150 million to its share repurchase program. As of the end of Q2, the company had about $30 million remaining from the previously announced $150 million share repurchase program.
September 19, 2023 | 8:16 pm
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Sylvamo Corporation's decision to add $150 million to its share repurchase program could potentially increase the company's stock price in the short term.
Share repurchase programs are typically seen as a positive signal by the market, as they indicate that the company believes its shares are undervalued. This could lead to an increase in demand for the shares, potentially driving up the stock price in the short term.
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