Concentrix Committed To Share Repurchases Of $100M Over Remainder Of 2024
Portfolio Pulse from Benzinga Newsdesk
Concentrix (CNXC) has announced its commitment to repurchase $100M of its shares throughout the remainder of 2024. Additionally, the company has paid a quarterly dividend of $0.3025 per share on February 15, 2024, and declared the same amount for the next quarter, payable on May 7, 2024. In the first quarter, Concentrix repurchased 0.2 million shares at an average cost of $90.22 per share, with a remaining share repurchase authorization of $267.5 million.
March 26, 2024 | 8:11 pm
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POSITIVE IMPACT
Concentrix announces $100M share repurchase plan and maintains its quarterly dividend at $0.3025 per share, with a significant remaining authorization for buybacks.
The commitment to repurchase $100M worth of shares indicates a strong confidence from the management in the company's financial health and future prospects. This, along with the consistent dividend payments, is likely to be viewed positively by investors, potentially leading to an increase in stock price in the short term. The significant remaining authorization for buybacks further reinforces this positive outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100