TEGNA Plans To Return 40-60% Of 2024-2025 Free Cash Flow To Shareholders Through New Capital Allocation Framework
Portfolio Pulse from Benzinga Newsdesk
TEGNA announced its plan to return 40-60% of its 2024-2025 free cash flow to shareholders, amounting to an expected $1.3 billion return of capital from the date of merger termination through 2025, including a $350 million commitment in 2024.
February 29, 2024 | 1:07 pm
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TEGNA aims to return 40-60% of its 2024-2025 free cash flow to shareholders, signaling a strong commitment to shareholder value post-merger termination, with a total expected return of $1.3 billion through 2025.
TEGNA's announcement to return a significant portion of its free cash flow to shareholders is a positive signal for the stock. It demonstrates the company's financial health and commitment to enhancing shareholder value. This move is likely to be well-received by the market, potentially leading to a positive short-term impact on the stock price. The specific commitment of $350 million in 2024 further solidifies this positive outlook.
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