Architectural Services Company Apogee Boosts Shares Buyback Program By 2M Shares, Declares Dividend
Portfolio Pulse from Shivani Kumaresan
Apogee Enterprises Inc (NASDAQ:APOG) has increased its existing share repurchase authorization by 2 million shares, bringing the total available share repurchase program to approximately 2.97 million shares. The company's Board of Directors has also declared a quarterly cash dividend of $0.24 per share, payable on November 8, 2023. The company held $18.42 million in cash and equivalents as of August 26, 2023.
October 06, 2023 | 12:46 pm
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Apogee Enterprises has increased its share buyback program and declared a quarterly dividend, which could make the stock more attractive to investors.
Share buybacks reduce the number of shares outstanding, which can increase earnings per share and, in turn, potentially boost the stock price. The declaration of a dividend also makes the stock more attractive to income-focused investors.
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