L.B. Foster Approves Modification To $15M Stock Repurchase Program; Shortens Tenure To Two Years
Portfolio Pulse from Benzinga Newsdesk
L.B. Foster has approved a modification to its $15M stock repurchase program, shortening the tenure to two years and removing the trailing-twelve month spending restriction. This change increases the company's flexibility to repurchase more stock before the program expires in February 2025.
August 06, 2024 | 12:05 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
L.B. Foster has modified its $15M stock repurchase program, shortening the tenure to two years and removing the trailing-twelve month spending restriction. This increases the company's flexibility to repurchase more stock before the program expires in February 2025.
The modification to the stock repurchase program is likely to be viewed positively by investors as it increases the company's ability to buy back more shares in a shorter period. This could lead to a short-term increase in the stock price due to the anticipated reduction in the number of shares outstanding and the signal of confidence from the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100