Block Board Approved Increase To Share Repurchase, Authorizing Purchase Of Up To Additional $3B Of Class A Common Stock
Portfolio Pulse from Benzinga Newsdesk
Block's board has approved an increase in its share repurchase program, authorizing the purchase of up to an additional $3 billion of Class A common stock.
August 01, 2024 | 8:26 pm
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Block's board has approved an increase in its share repurchase program, authorizing the purchase of up to an additional $3 billion of Class A common stock. This move is likely to positively impact the stock price in the short term as it signals confidence in the company's future prospects and can reduce the number of shares outstanding.
Share repurchase programs are generally viewed positively by investors as they indicate the company's confidence in its own financial health and future prospects. Additionally, buybacks can reduce the number of shares outstanding, potentially increasing earnings per share (EPS) and driving up the stock price.
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