NatWest Seeks Shareholder Approval To Make Directed Buyback Of Up To 15% Of Stock Owned By British Government In Any 12-Month Period
Portfolio Pulse from Benzinga Newsdesk
NatWest is seeking approval from its shareholders to conduct a directed buyback of up to 15% of its stock currently owned by the British government over any 12-month period, according to a notice for its upcoming Annual General Meeting (AGM) as reported by Reuters.
March 18, 2024 | 4:22 pm
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NatWest seeks shareholder approval for a directed buyback of up to 15% of its shares owned by the British government, signaling potential confidence in its financial health and future prospects.
Share buybacks often signal a company's belief in its own undervaluation or a strong financial position, potentially leading to a positive market reaction. Given that this buyback targets shares owned by the British government, it also indicates a move towards further privatization and could be seen positively by investors, likely leading to a short-term uptick in NWG's stock price.
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