BorgWarner Says Board Authorized An Additional Share Repurchase Program Of Up To $500Mn To Be Executed Over Next Three Years
Portfolio Pulse from Benzinga Newsdesk
BorgWarner's board has authorized a new share repurchase program, allowing the company to buy back up to $500 million worth of its shares over the next three years. This move is part of BorgWarner's strategy to enhance shareholder value.
May 02, 2024 | 10:34 am
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BorgWarner's new $500 million share repurchase program is expected to positively impact its stock price by reducing the number of shares outstanding, potentially increasing earnings per share and the stock's value.
Share repurchase programs typically signal a company's confidence in its 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.
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