AAON Announces $25M Increase To Share Repurchase Authorization
Portfolio Pulse from Benzinga Newsdesk
AAON has announced a $25 million increase in its share repurchase authorization, bringing the total to $50 million. The repurchases will be conducted under a pre-arranged plan following Rule 10b5-1 guidelines, with the timing and amount depending on market conditions.
March 05, 2024 | 8:36 pm
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AAON increases its share repurchase authorization by $25 million to a total of $50 million, aiming to buy back shares under Rule 10b5-1 guidelines.
Increasing the share repurchase authorization typically signals a company's confidence in its financial health and future prospects. It can lead to a reduction in the number of shares outstanding, potentially increasing the earnings per share (EPS) and the stock price in the short term. Given the size of the increase and the total authorization amount, this is likely to be viewed positively by investors.
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