ATN International Board of Directors Expands Share Repurchase Program To $25 Million And Increases Dividend From $0.21 To $0.24 Per Share
Portfolio Pulse from Benzinga Newsdesk
ATN International, Inc. (NASDAQ:ATNI) has announced an expansion of its share repurchase program to $25 million and an increase in its quarterly dividend from $0.21 to $0.24 per share. The dividend is payable on January 5, 2024, to shareholders of record as of December 31, 2023. The company is concluding its three-year infrastructure expansion and plans to focus on increasing capital returns to shareholders. The Board's decision reflects confidence in the company's strategic plan, which has led to strong cash flows, growth, and a solid balance sheet. ATN will continue to pursue a balanced capital allocation strategy, including acquisitions, investments, share repurchases, and dividends, while managing its net debt carefully.
December 14, 2023 | 9:37 pm
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POSITIVE IMPACT
ATN International has increased its share repurchase program to $25 million and raised its quarterly dividend by 14%. This reflects the company's strong financial position and commitment to returning value to shareholders.
The expansion of the share repurchase program and the increase in dividends are typically viewed positively by the market as they often indicate a company's strong financial health and a commitment to returning value to shareholders. This can lead to increased investor confidence and potentially a short-term rise in the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100