Seadrill Announced The Extension Of Share Repurchase Program And Authorized The Purchase Of Up To $200M By September 30, And Entered An Agreement With DNB Markets To Effect The First Tranche In Open Market Transactions On The OSE And NYSE
Portfolio Pulse from Benzinga Newsdesk
Seadrill has announced the extension of its share repurchase program, authorizing the purchase of up to $200 million by September 30. The company has also entered an agreement with DNB Markets to effect the first tranche in open market transactions on the OSE and NYSE.
June 26, 2024 | 7:01 am
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Seadrill has extended its share repurchase program, authorizing up to $200 million in buybacks by September 30. 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 extension of the share repurchase program and the authorization of up to $200 million in buybacks indicate that Seadrill is confident in its financial stability. Share buybacks typically reduce the number of shares outstanding, which can increase earnings per share and potentially boost the stock price.
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