Reported Sunday, Tenaris Commences A $300M Third Tranche Of Its $1.2B Share Buyback Program
Portfolio Pulse from Benzinga Newsdesk
Tenaris has announced the commencement of a $300M third tranche of its $1.2B share buyback program, set to start on May 13, 2024, and end by August 12, 2024. Shares bought will be cancelled, under the authority granted by the shareholders' meeting on June 2, 2020, up to 10% of the company's capital.
May 13, 2024 | 6:33 am
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Tenaris's $300M third tranche of its share buyback program indicates a strong cash position and a commitment to returning value to shareholders, likely to positively impact investor sentiment.
Share buyback programs often lead to a positive market reaction as they can indicate the company's management believes the stock is undervalued and that the company has sufficient cash reserves. This action can also improve financial ratios per share, making the stock more attractive to investors.
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