SHEL Announced A $3.5B Share Repurchase Program, Expected To Be Completed Prior To 4Q23 Results Announcement
Portfolio Pulse from Benzinga Newsdesk
Shell plc has announced the commencement of a $3.5 billion share buyback program, aimed at reducing the issued share capital of the company. The program, which is expected to be completed before the Q4 2023 results announcement, will see all repurchased shares cancelled.
November 02, 2023 | 7:24 am
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Shell's $3.5 billion share buyback program is expected to reduce the company's issued share capital. This could potentially increase the value of remaining shares and is likely to be viewed positively by investors.
Share buyback programs are often used by companies to reduce the number of shares on the market, which can increase the value of the remaining shares. This is generally seen as a positive move by investors as it can increase earnings per share and return on equity. Given the size of the buyback program, it is likely to have a significant impact on Shell's share price.
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