Kraft Heinz Board Approves Share Repurchase Program Of Up to $3B
Portfolio Pulse from Benzinga Newsdesk
The Kraft Heinz Company's Board of Directors has approved a share repurchase program that allows the company to buy back up to $3 billion of its outstanding common stock. The program is set to run until December 26, 2026.
November 27, 2023 | 1:48 pm
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Kraft Heinz has announced a share repurchase program of up to $3 billion, which may positively impact the stock price as it reflects confidence by the company in its own stock.
Share repurchase programs often lead to a positive short-term reaction in the stock market as they can indicate that the company believes its stock is undervalued. Additionally, buybacks reduce the number of shares outstanding, potentially increasing earnings per share and the stock price.
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