ArcBest's Board Increased The Share Repurchase Program Authorization To $125M
Portfolio Pulse from Benzinga Newsdesk
ArcBest's board of directors has increased the authorization for its share repurchase program to $125 million. In 2023, the company repurchased 930,754 shares for $91.5 million and paid $11.5 million in dividends.
February 06, 2024 | 11:04 am
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ArcBest's share repurchase program authorization increased to $125 million, with significant repurchases and dividends paid in 2023.
The increase in the share repurchase program authorization to $125 million demonstrates ArcBest's confidence in its financial health and commitment to returning value to shareholders. This move is likely to be viewed positively by investors, potentially leading to a short-term increase in stock price due to perceived company strength and shareholder value enhancement.
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IMPORTANCE 90
RELEVANCE 100