Gen Digital Board Authorizes $3B Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
Gen Digital's Board of Directors has approved an increase in the share repurchase authorization to $3 billion, which includes the remaining $429 million from the current authorization. This new authorization does not have an expiration date.
May 09, 2024 | 8:10 pm
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Gen Digital's share repurchase program has been increased to $3 billion, signaling strong confidence from the company's Board in its financial health and future prospects.
Share repurchase programs often lead to an increase in the stock price as they reduce the number of shares available in the market, potentially increasing earnings per share (EPS). This move by Gen Digital's Board reflects a strong vote of confidence in the company's financial stability and future growth prospects, likely leading to positive investor sentiment in the short term.
CONFIDENCE 95
IMPORTANCE 90
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