Disney Board Approved New Share Repurchase Program, Plans To Target $3B In Repurchase In FY24
Portfolio Pulse from Benzinga Newsdesk
The Disney Board has approved a new share repurchase program, with plans to target $3 billion in repurchases for the fiscal year 2024.
February 07, 2024 | 9:11 pm
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POSITIVE IMPACT
Disney's new share repurchase program targets $3 billion in repurchases for FY24, indicating a positive outlook from the company's management.
Share repurchase programs often signal a company's belief in its own undervaluation and can lead to an increase in share price due to the reduced supply of shares and the positive signal it sends to the market. Given Disney's significant target of $3 billion for the fiscal year 2024, this move is likely to be viewed positively by investors, potentially leading to a short-term increase in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100