On December 12, Constellation Energy's Board Approved An Increase To Company's Previously Announced $1B Share Repurchase Program; Authorizing Repurchase Of Up To An Additional $1B Of Company's Outstanding Common Stock
Portfolio Pulse from Benzinga Newsdesk
Constellation Energy Corporation's Board has approved an additional $1 billion for its share repurchase program, doubling the total authorization to $2 billion. The repurchases are subject to market conditions and legal requirements and may occur in the open market or through private transactions.
December 14, 2023 | 9:47 pm
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Constellation Energy Corporation's Board has approved an additional $1 billion for its share repurchase program, which may positively impact the stock price in the short term due to the reduced share supply and potential increase in EPS.
Share repurchase programs often lead to a positive market reaction as they can indicate that a company believes its stock is undervalued. The reduction in the number of shares outstanding can also lead to an increase in earnings per share (EPS), making the stock more attractive to investors. However, the actual impact will depend on the execution of the buyback and market conditions.
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