ONEOK shares are trading higher after the company announced a $2 billion share repurchase program and raised its quarterly dividend.
Portfolio Pulse from Benzinga Newsdesk
ONEOK, Inc. has announced a new $2 billion share repurchase program and has increased its quarterly dividend, leading to a rise in its stock price.
January 18, 2024 | 8:41 pm
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POSITIVE IMPACT
ONEOK's stock is expected to experience a positive short term impact due to the announcement of a $2 billion share repurchase program and an increase in its quarterly dividend.
Share repurchase programs are typically viewed positively by the market as they often lead to a reduction in the number of shares outstanding, potentially increasing earnings per share and the value of remaining shares. Additionally, raising the quarterly dividend can attract income-focused investors and signal confidence in the company's financial health.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100