Lithia & Driveway Reveals $350M Increase To Share Repurchase Authorization, Bringing Total Funds Available For Future Repurchases To $660M
Portfolio Pulse from Benzinga Newsdesk
Lithia & Driveway (LAD) has announced a $350 million increase to its share repurchase authorization, bringing the total funds available for future repurchases to $660 million.
June 04, 2024 | 11:05 am
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Lithia & Driveway (LAD) has increased its share repurchase authorization by $350 million, bringing the total to $660 million. 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 can reduce the number of shares outstanding.
The increase in share repurchase authorization indicates that the company is confident in its financial stability and future prospects. Share buybacks can lead to a higher stock price by reducing the number of shares outstanding, thus increasing earnings per share (EPS).
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IMPORTANCE 80
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