New Oriental Education Upsizes Share Repurchase Program By $300M to $700 Million, Extends By 2 Years Through 2025
Portfolio Pulse from Benzinga Newsdesk
New Oriental Education & Technology Group Inc. (NYSE:EDU) has announced an increase in its share repurchase program from $400 million to $700 million and extended the program by two years through May 31, 2025. The company has already repurchased approximately $330.3 million worth of its ADSs.
August 06, 2024 | 9:02 am
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New Oriental Education & Technology Group Inc. (NYSE:EDU) has increased its share repurchase program from $400 million to $700 million and extended it by two years through May 31, 2025. The company has already repurchased $330.3 million worth of its ADSs.
The increase in the share repurchase program and its extension is a positive signal to investors, indicating the company's confidence in its financial health and future prospects. This is likely to have a positive short-term impact on the stock price.
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