AZEK Enters Accelerated Share Repurchase Agreement For $50M Of Class A Common Stock
Portfolio Pulse from Benzinga Newsdesk
AZEK has entered into an accelerated share repurchase agreement to buy back $50 million of its Class A common stock. This move is likely aimed at boosting shareholder value and confidence.
August 14, 2024 | 11:33 am
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AZEK has entered into an accelerated share repurchase agreement to buy back $50 million of its Class A common stock. This move is likely aimed at boosting shareholder value and confidence.
Share repurchase agreements typically signal that a company believes its stock is undervalued and is a good investment. This can lead to a short-term increase in stock price as it reduces the number of shares outstanding, potentially increasing earnings per share.
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