Polaris Announces $1B Share Repurchase Authorization
Portfolio Pulse from Benzinga Newsdesk
Polaris has announced a $1B share repurchase authorization, effective immediately. This is in addition to the previous share repurchase authorization announced in April 2021, which has approximately $204 million remaining. So far, Polaris has repurchased 1.4 million shares this year.
October 26, 2023 | 8:57 pm
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POSITIVE IMPACT
Polaris' new $1B share repurchase authorization could potentially increase the stock's price as it indicates the company's confidence in its own stock. It also reduces the number of shares outstanding, which can increase earnings per share.
Share repurchases often lead to a rise in the stock price as they indicate the company's belief in its own stock's value. Additionally, by reducing the number of shares outstanding, earnings per share can increase, which can also lead to a rise in the stock price.
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