Seadrill Increases Share Repurchase Authorization, Allowing Repurchase Up To Additional $500M Stock Over Two-year Period Commencing Current Program Is Completed
Portfolio Pulse from Benzinga Newsdesk
Seadrill has increased its share repurchase authorization, allowing the company to repurchase up to an additional $500 million in stock over a two-year period once the current program is completed.
May 16, 2024 | 11:27 am
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Seadrill has increased its share repurchase authorization by $500 million, which will commence after the current program is completed. This move is likely to positively impact the stock price in the short term as it signals confidence in the company's financial health and commitment to returning value to shareholders.
The increase in share repurchase authorization indicates that Seadrill is confident in its financial stability and is committed to enhancing shareholder value. This is generally viewed positively by investors, likely leading to a short-term increase in the stock price.
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IMPORTANCE 80
RELEVANCE 100