Barings BDC Board Authorizes New 12-Month Share Repurchase Program, Plans To Buyback Up To $30M In The Aggregate Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Barings BDC's board has authorized a new 12-month share repurchase program, allowing the company to buy back up to $30 million of its common stock below the current NAV per share, starting March 1, 2024.
February 22, 2024 | 9:38 pm
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Barings BDC plans to repurchase up to $30 million of its common stock below the NAV per share, starting March 1, 2024.
Share repurchase programs often lead to a positive market reaction as they can indicate that the company believes its stock is undervalued. For BBDC, this move to repurchase up to $30 million of its common stock could signal confidence in its financial health and future prospects, potentially leading to an increase in stock price in the short term.
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