Lennar Says Will Allocate Capital To Reduce Debt As It Comes Due And Increase Our Share Repurchase Target To $2B In 2024
Portfolio Pulse from Benzinga Newsdesk
Lennar Corporation has announced plans to allocate capital towards reducing its debt as it matures and to increase its share repurchase target to $2 billion in 2024.
December 14, 2023 | 9:38 pm
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Lennar Corporation intends to use its capital to pay down maturing debt and has set a higher goal for share repurchases, planning to buy back $2 billion worth of shares in 2024.
Lennar's announcement to reduce debt and increase share repurchases is a positive signal to investors, indicating a commitment to financial stability and shareholder value. This strategy can lead to a reduction in interest expenses and an increase in earnings per share due to the reduced number of shares outstanding. Consequently, this could result in a positive short-term impact on Lennar's stock price as the market reacts to the company's proactive financial management.
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