Restaurant Brands International Announces Renewal Of Normal Course Issuer Bid That Allows RBI To Purchase Up To $500M Of Its Common Shares Through September 30, 2025
Portfolio Pulse from Benzinga Newsdesk
Restaurant Brands International Inc. (RBI) has announced the renewal of its normal course issuer bid, allowing the company to repurchase up to $500 million of its common shares by September 30, 2025. This move is part of RBI's capital allocation strategy, although the company is currently prioritizing its 2024 net leverage target.
September 12, 2024 | 12:40 pm
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Restaurant Brands International has renewed its share repurchase program, allowing the buyback of up to $500 million in shares by 2025. This could positively impact the stock price as buybacks often signal confidence in the company's value.
The renewal of the share repurchase program indicates RBI's confidence in its financial health and future prospects. Share buybacks can reduce the number of shares outstanding, potentially increasing earnings per share and supporting the stock price. However, the company's focus on its 2024 net leverage target suggests a balanced approach to capital allocation.
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