Stellantis' Board Of Directors Approved A Share Buyback Program Of Up To €3B (Total Purchase Price Excluding Ancillary Costs) Over A Period Ending December 31, 2024
Portfolio Pulse from Benzinga Newsdesk
Stellantis' Board of Directors has approved a share buyback program of up to €3 billion, excluding ancillary costs, to be completed by December 31, 2024.
February 15, 2024 | 8:50 am
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Stellantis plans to buy back shares worth up to €3 billion by the end of 2024, signaling confidence in its financial health and potentially increasing shareholder value.
Share buyback programs often lead to an increase in the stock price as they reduce the number of shares available in the market, making each share worth a larger fraction of the company. Additionally, it signals the company's confidence in its own financial health and future prospects. Given the size of the buyback and the timeline, this move by Stellantis could significantly impact its stock price in the short term.
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