Oppenheimer Holdings Inc. Announces Share Repurchase Program Up To 518,000 Shares Of The Company's Class A Non-Voting Common Stock, Representing ~5% Of Its Currently Issued And Outstanding Shares Of Class A Non-Voting Common Stock
Portfolio Pulse from Benzinga Newsdesk
Oppenheimer Holdings Inc. (OPY) has announced a new share repurchase program authorizing the purchase of up to 518,000 shares of its Class A non-voting common stock, about 5% of the current outstanding shares. This is in addition to the remaining 120,155 shares from a previous program, totaling 638,155 shares available for repurchase. The program is open-ended, with purchases made at market price using cash on hand, subject to regulatory compliance and market conditions.
March 04, 2024 | 1:06 pm
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OPY announces a share repurchase program for up to 518,000 shares, supplementing an existing program for a total of 638,155 shares, aiming to buy back about 5% of its Class A non-voting shares.
Share repurchase programs often signal a company's confidence in its financial health and future prospects, potentially leading to a positive short-term impact on the stock price. By reducing the number of shares outstanding, EPS may increase, further attracting investors. However, the actual impact depends on market conditions and the execution of the buyback.
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