Ferrovial Implements Buy-Back Program; To Repurchase Ferrovial Shares In Context Of Different Corporate Actions; Maximum Investment Of €300 Million; Program Has Been Authorized To Feb 28, 2025; Maximum Number Of Shares To Be Acquired Of Up To 30M, About 4.1% Of Co's Share Capital
Portfolio Pulse from Benzinga Newsdesk
Ferrovial has announced a buy-back program to repurchase its shares, with a maximum investment of €300 million and a cap of 30 million shares, representing about 4.1% of its share capital. The program is authorized until February 28, 2025.
August 23, 2024 | 2:34 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Ferrovial's buy-back program aims to repurchase up to 30 million shares, representing 4.1% of its share capital, with a maximum investment of €300 million. This move is likely to support the stock price by reducing the number of shares in circulation.
The buy-back program indicates Ferrovial's confidence in its own stock value and is a common strategy to return value to shareholders. By reducing the number of shares in circulation, the program can increase earnings per share and potentially support the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100