Kontoor Brands Plans Up To $300M Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
Kontoor Brands has announced a new share repurchase program of up to $300 million, replacing the previous program from August 5, 2021. The company plans to fund the buybacks through operational cash flow.
December 11, 2023 | 11:51 am
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POSITIVE IMPACT
Kontoor Brands' new $300M share repurchase program is expected to positively impact its stock price as it signals confidence in the company's financial health and a commitment to returning value to shareholders.
Share repurchase programs are typically viewed positively by the market as they can reduce the number of shares outstanding, potentially increasing earnings per share and the stock price. The fact that Kontoor Brands is funding the buyback through operational cash flow suggests the company is generating sufficient cash and is confident in its financial stability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100