AXIS Capital Board Approves New Share Repurchase Program Authorizing Up To $300M In Common Shares
Portfolio Pulse from Benzinga Newsdesk
AXIS Capital's board has approved a new share repurchase program authorizing up to $300 million in common shares.
May 16, 2024 | 8:20 pm
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AXIS Capital's board has approved a new share repurchase program authorizing up to $300 million in common shares. This move is likely to positively impact the stock price in the short term as share repurchase programs typically signal confidence in the company's financial health and can reduce the number of shares outstanding, potentially increasing earnings per share.
Share repurchase programs are generally viewed positively by investors as they indicate the company's confidence in its financial stability and future prospects. Additionally, repurchasing shares can reduce the number of shares outstanding, which can lead to an increase in earnings per share (EPS) and potentially boost the stock price.
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