BayCom Approved Buyback Of Up To 560,000 Shares Of Stock; Declares Quarterly Dividend Of $0.10/Share
Portfolio Pulse from Benzinga Newsdesk
BayCom has approved a buyback of up to 560,000 shares of its stock and declared a quarterly dividend of $0.10 per share.
May 24, 2024 | 8:32 pm
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BayCom has approved a buyback of up to 560,000 shares of its stock and declared a quarterly dividend of $0.10 per share. This move is likely to positively impact the stock price in the short term as buybacks reduce the number of shares outstanding, potentially increasing earnings per share, and dividends provide direct returns to shareholders.
The buyback reduces the number of shares outstanding, which can increase earnings per share and potentially boost the stock price. Additionally, the dividend provides a direct return to shareholders, making the stock more attractive.
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IMPORTANCE 80
RELEVANCE 100