PVH Corp. Authorizes $2B Increase To Stock Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
PVH Corp. has announced a $2 billion increase to its stock repurchase program, with the Board of Directors approving this expansion and extending the program through July 2028. This move is part of the PVH+ Plan aimed at returning excess cash to shareholders. In 2023, PVH repurchased 5.7 million shares for $550 million, including 2.5 million shares for $282 million in Q4 alone.
April 01, 2024 | 8:17 pm
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PVH Corp. has significantly increased its stock repurchase program by $2 billion, extending the duration through July 2028. This action is a clear signal of the company's commitment to returning value to its shareholders and its confidence in the company's financial health.
Stock repurchase programs often lead to a positive market perception, as they can indicate that a company believes its stock is undervalued and that it has strong financial health. By increasing its stock repurchase program significantly, PVH Corp. is likely to create a positive sentiment among investors, potentially leading to a short-term increase in stock price.
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