Spectrum Brands Board Approved New $500M Share Repurchase Authorization
Portfolio Pulse from Benzinga Newsdesk
Spectrum Brands' board has approved a new $500 million share repurchase authorization, indicating confidence in the company's future performance and potentially boosting shareholder value.
August 08, 2024 | 10:36 am
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Spectrum Brands' board has approved a new $500 million share repurchase authorization. This move indicates the company's confidence in its future performance and is likely to boost shareholder value by reducing the number of shares outstanding.
Share repurchase programs typically indicate that a company believes its stock is undervalued and is confident in its future performance. This can lead to a short-term increase in stock price as the number of shares outstanding decreases, boosting earnings per share.
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