Qifu Technology Announces New $350M Share Repurchase Plan And Reaffirm Existing Semi-Annual Dividend Policy
Portfolio Pulse from Benzinga Newsdesk
Qifu Technology has announced a new share repurchase plan, allowing for the repurchase of up to $350 million worth of its American depositary shares or Class A ordinary shares over the next 12 months starting from April 1, 2024. Additionally, the company has reaffirmed its existing semi-annual dividend policy.
March 12, 2024 | 10:09 pm
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Qifu Technology announces a $350M share repurchase plan and reaffirms its semi-annual dividend policy, effective from April 1, 2024.
Share repurchase plans often lead to a positive market reaction as they can indicate that a company believes its stock is undervalued. Additionally, reaffirming a dividend policy can signal financial stability and a commitment to returning value to shareholders. Both actions are likely to be viewed positively by investors, potentially leading to a short-term increase in Qifu Technology's stock price.
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IMPORTANCE 90
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