Philips To Buyback Shares For Up To €125M
Portfolio Pulse from Benzinga Newsdesk
Royal Philips (NYSE: PHG) announced a share buyback program worth up to €125 million to cover obligations from its long-term incentive plans. The buyback will involve forward transactions and open market purchases, with the latter occurring in Q3 2024.
August 05, 2024 | 10:03 am
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Royal Philips announced a share buyback program worth up to €125 million to cover obligations from its long-term incentive plans. The buyback will involve forward transactions and open market purchases, with the latter occurring in Q3 2024.
The share buyback program is likely to positively impact the stock price in the short term as it signals confidence from the company and reduces the number of shares outstanding, potentially increasing earnings per share.
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