Seadrill Limited Initiates New Share Buy-back Program
Portfolio Pulse from Benzinga Newsdesk
Seadrill Limited has completed its $250 million share buyback program and has announced an additional authorization to repurchase up to another $250 million of its common shares. The new buyback program has no set time limit and the company is not obligated to repurchase any specific number of shares.
December 14, 2023 | 7:22 am
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Seadrill Limited has completed a $250 million share buyback and has authorized an additional $250 million for future repurchases. This could signal confidence by the company in its stock value and financial health.
Share buybacks often lead to a positive market reaction as they can indicate a company's belief that its shares are undervalued. The completion of the previous buyback and the announcement of a new program could be seen as a positive signal to investors, potentially leading to a short-term increase in the stock price.
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