Cintas Plans Additional Share Buyback Program For Up To $1.0B Of Common Stock At Market Prices
Portfolio Pulse from Benzinga Newsdesk
Cintas Corporation has announced an additional share buyback program for up to $1.0 billion of its common stock at market prices. This is in addition to an existing program with $0.5 billion remaining, bringing the total potential buyback to $1.5 billion.
July 23, 2024 | 8:01 pm
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Cintas Corporation has announced an additional share buyback program for up to $1.0 billion of its common stock, adding to an existing program with $0.5 billion remaining. This brings the total potential buyback to $1.5 billion.
Share buyback programs typically signal that a company believes its stock is undervalued and can lead to an increase in stock price due to reduced supply and increased demand. The substantial size of the buyback ($1.5 billion) indicates strong confidence from Cintas in its financial health and future prospects.
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