EXL Announces $125M Accelerated Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
EXL (NASDAQ:EXLS), a data analytics and digital operations company, announced a $125M accelerated share repurchase (ASR) agreement with Citibank, N.A. to buy back its common stock. This move is part of EXL's capital allocation program and aims to enhance stockholder value. The repurchase will be funded by cash on hand or borrowing, and the final number of shares bought will depend on the stock's average prices during the ASR term. This ASR is under EXL's existing $500M stock repurchase program.
March 18, 2024 | 9:13 pm
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EXL announces a $125M accelerated share repurchase program with Citibank, aiming to enhance stockholder value under its $500M stock repurchase program.
Accelerated share repurchase programs typically signal a company's confidence in its financial health and future prospects, often leading to a positive short-term impact on the stock price. By reducing the number of shares outstanding, EPS may increase, potentially making the stock more attractive to investors.
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