Light & Wonder Plans New Three-Year Share Repurchase Program For Of Up To $1B Of Common Stock Through June 12, 2027
Portfolio Pulse from Benzinga Newsdesk
Light & Wonder has announced a new three-year share repurchase program, authorizing the buyback of up to $1 billion of its common stock through June 12, 2027. This replaces the previous program which allowed for $750 million in repurchases and was set to expire on February 26, 2025.
June 13, 2024 | 9:27 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Light & Wonder has launched a new share repurchase program worth up to $1 billion, extending through June 2027. This move replaces the previous $750 million program and is likely to positively impact the stock price in the short term.
The new share repurchase program indicates the company's confidence in its financial health and future prospects. By increasing the buyback amount to $1 billion, Light & Wonder is likely to reduce the number of shares outstanding, which can boost the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100