PPG Board Authorizes $2.5B Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
PPG's board has authorized a new $2.5 billion share repurchase program, adding to the existing authorization from December 2017 with about $860 million remaining as of March 31, 2024.
April 18, 2024 | 8:09 pm
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POSITIVE IMPACT
PPG's new $2.5 billion share repurchase program is likely to positively impact its stock price in the short term.
Share repurchase programs often lead to an increase in stock price due to the reduced supply of shares and the signal it sends about the company's confidence in its own future. Given the size of the program and its addition to an existing authorization, it's reasonable to expect a positive short-term impact on PPG's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100