Select Medical Says Board Has Authorized Common Stock Repurchase Program Of Up To $1.0B Of Shares; Will Remain In Effect Until December 31, 2025
Portfolio Pulse from Benzinga Newsdesk
Select Medical announced that its board has authorized a common stock repurchase program allowing for the repurchase of up to $1.0 billion of its shares. This program is set to remain in effect until December 31, 2025.
February 22, 2024 | 10:29 pm
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Select Medical's board has approved a stock repurchase program of up to $1.0 billion, effective until December 31, 2025.
Stock repurchase programs often lead to an increase in the stock price as they reduce the number of shares available in the market, potentially increasing earnings per share (EPS) and the value of remaining shares. Given the substantial amount allocated ($1.0 billion) and the extended duration of the program (until the end of 2025), this announcement is likely to be viewed positively by investors and could lead to a short-term increase in SEM's stock price.
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