ScanSource Announces New $100M Share Purchase Authorization
Portfolio Pulse from Benzinga Newsdesk
ScanSource has announced a new $100M share purchase authorization, supplementing the existing authorization with approximately $45 million remaining as of March 31, 2024.
May 07, 2024 | 12:32 pm
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POSITIVE IMPACT
ScanSource's new $100M share purchase authorization is likely to positively impact its stock price by signaling confidence to investors.
Share buyback programs often lead to an increase in stock price as they can indicate the company's belief in its own undervaluation and can improve earnings per share by reducing the number of shares outstanding. Given the substantial amount of the new authorization, this move by ScanSource is likely to be viewed positively by the market.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100