Fortive Announces Replenishment Of Share Repurchase Authorization Bringing The Total Amount For Future Repurchases To 20M Shares, Including 9M Shares Available Under The Prior Authorization
Portfolio Pulse from Benzinga Newsdesk
Fortive Corporation (NYSE:FTV) has announced that its Board of Directors approved an additional 11 million shares for its share repurchase program, bringing the total to 20 million shares. This includes the 9 million shares previously authorized. The company emphasizes a strategic approach to capital allocation, including disciplined M&A and shareholder value enhancement. The repurchase program has no expiration date and purchases will be based on market conditions.
January 23, 2024 | 9:32 pm
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Fortive's Board has approved an additional 11 million shares for repurchase, totaling 20 million shares for future buybacks. This reflects the company's commitment to capital allocation and shareholder value.
Share repurchase programs are typically viewed positively by the market as they can indicate management's confidence in the company's financial health and future prospects. By increasing the number of shares authorized for repurchase, Fortive is signaling its commitment to returning value to shareholders, which could lead to a short-term positive impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100