On Feb 16, Garmin's Board Authorized $300M Stock Buyback Through Dec 2026
Portfolio Pulse from Benzinga Newsdesk
On February 16, 2024, Garmin Ltd. (GRMN) announced that its Board of Directors has authorized a stock buyback program allowing the company to repurchase up to $300 million of its shares through December 26, 2026. The repurchases are subject to market and business conditions, legal requirements, and can be made in the open market or through privately negotiated transactions. The program does not commit Garmin to repurchase any specific number of shares and can be adjusted, paused, or terminated at any time.
February 21, 2024 | 12:10 pm
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Garmin Ltd. has initiated a $300 million stock buyback program, effective through December 2026, allowing for share repurchases based on market conditions.
Stock buyback programs are generally viewed positively by the market as they can reduce the number of shares outstanding, potentially increasing earnings per share and the stock price. Garmin's announcement of a $300 million buyback program signals confidence in the company's financial health and future prospects. However, the impact on the stock price will depend on market conditions, the execution of the buyback, and broader economic factors.
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