Spectrum Brands Holdings Authorized A New $500M Parent Common Stock Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
Spectrum Brands Holdings, Inc. (NYSE:SPB) has announced a new $500 million stock repurchase program and plans to offer $300 million in exchangeable senior notes due 2029. The proceeds will be used for capped call transactions, repurchasing up to $100 million of common stock, and general corporate purposes.
May 20, 2024 | 11:01 am
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Spectrum Brands Holdings has authorized a $500 million stock repurchase program and plans to offer $300 million in exchangeable senior notes due 2029. The proceeds will be used for capped call transactions, repurchasing up to $100 million of common stock, and general corporate purposes.
The announcement of a $500 million stock repurchase program is likely to positively impact SPB's stock price in the short term as it indicates confidence in the company's financial health and can reduce the number of shares outstanding, potentially increasing earnings per share.
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