On March 12, 2024, The Company's Board Of Directors Approved A New Share Repurchase Authorization Of $2B
Portfolio Pulse from Benzinga Newsdesk
Ulta Beauty's Board of Directors approved a new $2B share repurchase authorization on March 12, 2024, replacing the prior program from March 2022. In fiscal 2023, Ulta repurchased 2.2 million shares for $1.0 billion, with $99.9 million remaining from the previous authorization. Since 2014, Ulta has returned $5.8 billion to shareholders through repurchases, alongside strategic growth investments. The new program allows for repurchases through various methods without an expiration date.
March 14, 2024 | 8:08 pm
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Ulta Beauty has initiated a new $2 billion share repurchase program, indicating strong financial health and a commitment to returning value to shareholders.
Share repurchase programs often signal a company's confidence in its financial stability and future prospects. By reducing the number of shares outstanding, such programs can lead to an increase in earnings per share and potentially boost the stock price. Given Ulta Beauty's history of returning significant capital to shareholders and the size of this new authorization, it's reasonable to expect a positive short-term impact on ULTA's stock price.
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