Block Says We're Instituting An Initial Authorization To Repurchase $1B In Shares, Which Will Offset A Portion Of Dilution From Share Based Compensation. This Also Allows Us To Act Opportunistically When We Believe Our Company Is Undervalued
Portfolio Pulse from Benzinga Newsdesk
Block, formerly known as Square (SQ), has announced an initial authorization to repurchase $1 billion in shares. This move is expected to offset a portion of dilution from share-based compensation and act opportunistically when the company is undervalued. The company also expects its margin profile and free cash flow generation to improve in the coming years.

November 02, 2023 | 9:26 pm
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Block's announcement of a $1 billion share repurchase program is likely to be viewed positively by investors, potentially leading to an increase in the company's stock price.
Share repurchase programs are often seen as a sign of a company's confidence in its own stock, and can lead to an increase in the stock price as the number of shares in circulation decreases. This, combined with the company's expectation of improved margins and cash flow, could make the stock more attractive to investors.
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