Scholastic Board Approves Additional $66M For Share Repurchases
Portfolio Pulse from Benzinga Newsdesk
The board of Scholastic Corporation has authorized an additional $66 million for share repurchases, signaling confidence in the company's financial stability and a commitment to returning value to shareholders.
December 14, 2023 | 9:03 pm
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POSITIVE IMPACT
Scholastic Corporation's board approval for an additional $66 million in share repurchases may lead to a positive short term impact on the stock price due to the signal of financial strength and shareholder value enhancement.
Share repurchase programs are often viewed positively by the market as they can indicate that the company believes its stock is undervalued and that it is confident in its financial position. Additionally, buybacks can improve earnings per share by reducing the number of shares outstanding, potentially leading to a short term increase in stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100