Steelcase Entered Into Stock Repurchase Agreement With Independent Third Party Broker To Repurchase Up To 2M Shares
Portfolio Pulse from Benzinga Newsdesk
Steelcase Inc. has entered into a stock repurchase agreement with an independent third-party broker to repurchase up to 2 million shares, according to an SEC filing.
October 30, 2023 | 8:34 pm
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POSITIVE IMPACT
Steelcase's decision to repurchase up to 2 million shares could potentially increase the stock's value in the short term.
Share repurchases often lead to a rise in the stock's price as they reduce the number of shares outstanding, which increases earnings per share and often the stock price. However, the actual impact will depend on market conditions and investor sentiment.
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