Equity Commonwealth Plans Repurchase, From July 1, 2024 Through June 30, 2025, Of Up To Additional $150M Of Its Common Shares Under Existing Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
Equity Commonwealth (EQC) has announced plans to repurchase up to an additional $150 million of its common shares from July 1, 2024, through June 30, 2025, under its existing share repurchase program. The company still has $93 million remaining under its prior authorization, which expires on June 30, 2024.
June 18, 2024 | 9:49 pm
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Equity Commonwealth (EQC) has announced a plan to repurchase up to an additional $150 million of its common shares from July 1, 2024, through June 30, 2025. This move is likely to positively impact the stock price in the short term as it indicates the company's confidence in its financial health and commitment to returning value to shareholders.
Share repurchase programs typically signal a company's confidence in its financial stability and can lead to an increase in stock price due to reduced share supply and increased earnings per share. The additional $150 million repurchase plan, along with the remaining $93 million under the prior authorization, suggests a significant commitment to returning value to shareholders.
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