Assurant Board Of Directors Authorizes Additional $600M In Share Repurchases And Approves Common Stock Dividend Increase From $0.70 To $0.72 Per Share
Portfolio Pulse from Benzinga Newsdesk
Assurant, Inc. (NYSE:AIZ) has announced that its Board of Directors has authorized a repurchase program for up to $600 million of the company's outstanding common stock. This is in addition to the company's current authorization, of which approximately $174 million remained unused as of October 31, 2023. The company's Board of Directors also declared a quarterly dividend increase of $0.02 to $0.72 per share of common stock.
November 09, 2023 | 11:36 pm
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POSITIVE IMPACT
Assurant's announcement of an additional $600M share repurchase program and a dividend increase could potentially boost investor confidence and positively impact the company's stock price in the short term.
Share repurchase programs are often seen as a sign of a company's strong financial health and can lead to a rise in the stock's price as it indicates that the company believes its shares are undervalued. Additionally, an increase in dividends can make a company's stock more attractive to investors, potentially leading to an increase in demand for the stock and a subsequent rise in its price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100