FedEx Expects To Repurchase An Additional $1.5B Of Common Stock During Fiscal 2024. Cash On-Hand As Of August 31, 2023 Was $7.1B
Portfolio Pulse from Benzinga Newsdesk
FedEx (FDX) plans to repurchase an additional $1.5 billion of common stock during fiscal 2024. The company had a cash on-hand of $7.1 billion as of August 31, 2023.
September 20, 2023 | 8:09 pm
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FedEx's announcement of a $1.5 billion stock repurchase in fiscal 2024 could potentially boost investor confidence and positively impact the stock price.
Stock repurchases often lead to a rise in the stock price as they reduce the number of shares outstanding, thereby increasing earnings per share. This could make the stock more attractive to investors, potentially leading to an increase in demand and a rise in the stock price.
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