Intuit Approved A New $3B Repurchase Authorization, Giving The Company A Total Authorization Of $4.9B To Repurchase Shares.
Portfolio Pulse from Benzinga Newsdesk
Intuit has been approved for a new $3 billion share repurchase authorization, increasing its total repurchase authorization to $4.9 billion. The company reported $4.1 billion in cash and investments and $6.0 billion in total debt as of July 31. Intuit also announced a 16% increase in its quarterly dividend to $1.04 per share, payable on October 18, 2024.
August 22, 2024 | 8:09 pm
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Intuit has increased its share repurchase authorization by $3 billion, totaling $4.9 billion, and announced a 16% increase in its quarterly dividend to $1.04 per share.
The increase in share repurchase authorization suggests Intuit is confident in its financial position and is committed to returning value to shareholders. The 16% dividend increase further indicates strong financial health and a positive outlook, likely boosting investor sentiment and potentially driving the stock price up in the short term.
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