Shell Announces Commencement Of $3.5B Share Buyback Programme Covering An Aggregate Contract Term Of Around Three Months
Portfolio Pulse from Benzinga Newsdesk
Shell plc has initiated a $3.5 billion share buyback program aimed at reducing its issued share capital. The program, set to last around three months, will see all repurchased shares cancelled. Completion is targeted before the Q2 2024 results announcement on August 1.

May 02, 2024 | 6:31 am
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Shell plc's $3.5 billion share buyback program is designed to reduce its issued share capital, with all repurchased shares to be cancelled.
Share buyback programs typically signal a company's confidence in its own financial health and future prospects, often leading to a positive reaction in the stock market. By reducing the number of shares outstanding, earnings per share (EPS) may increase, potentially making the stock more attractive to investors. Given the size of the buyback and the clear timeline provided, this move by Shell plc is likely to be viewed positively by the market, especially in the short term.
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