UPS Restarts Stock Buyback Program, Targeting $1B Annually; Guides For $500M Buyback In FY24
Portfolio Pulse from Benzinga Newsdesk
UPS has announced the restart of its stock buyback program, targeting $1 billion annually, with a specific guidance of $500 million in buybacks for the fiscal year 2024.

July 23, 2024 | 10:10 am
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UPS has restarted its stock buyback program, targeting $1 billion annually and guiding for $500 million in buybacks for FY24. 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, potentially increasing earnings per share.
Stock buybacks are generally viewed positively by investors as they indicate the company's confidence in its financial stability and future prospects. Additionally, buybacks can reduce the number of shares outstanding, which can lead to higher earnings per share and potentially higher stock prices.
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