S&P Global Board Authorized Repurchase Of Shares Totaling Up To $2.4B; And Expects To Launch An Initial $500M Accelerated Share Repurchase Soon
Portfolio Pulse from Benzinga Newsdesk
S&P Global's Board has authorized a share repurchase program of up to $2.4B and plans to initiate a $500M Accelerated Share Repurchase soon. The company aims to return about 85% of its adjusted free cash flow to shareholders in 2024 through dividends and share repurchases, with a quarterly cash dividend of $0.91, marking the 51st consecutive year of dividend increases.

February 08, 2024 | 12:35 pm
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S&P Global plans a share repurchase of up to $2.4B and a $500M Accelerated Share Repurchase. It also aims to return 85% of its 2024 cash flow to shareholders and has increased its quarterly dividend to $0.91.
The announcement of a significant share repurchase program and the continuation of a strong dividend policy, especially marking the 51st consecutive year of dividend increases, are positive signals to investors. These actions typically indicate the company's confidence in its financial health and future prospects, potentially leading to a positive short-term impact on the stock price. The commitment to return a substantial portion of its cash flow to shareholders further reinforces this positive outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100