Avnet Expands Share Repurchase Authorization To $600M And Increases Dividend From $0.31 To $0.33 Per Share
Portfolio Pulse from Benzinga Newsdesk
Avnet, Inc. (NASDAQ:AVT) has expanded its share repurchase authorization to $600 million and increased its quarterly dividend by 6% to $0.33 per share. The dividend will be paid on September 25, 2024, to shareholders of record as of September 11, 2024.
August 19, 2024 | 12:03 pm
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POSITIVE IMPACT
Avnet has increased its share repurchase authorization to $600 million and raised its quarterly dividend by 6% to $0.33 per share. This move is likely to positively impact the stock price in the short term as it signals strong financial health and shareholder returns.
The increase in share repurchase authorization and dividend hike are strong indicators of Avnet's financial stability and commitment to returning value to shareholders. These actions are generally viewed positively by the market, likely leading to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100