Reported Friday, Saba Capital Fund II Announces 10% Share Buyback Plan, Targets NAV Improvement
Portfolio Pulse from Benzinga Newsdesk
Saba Capital Income & Opportunities Fund II (NYSE:SABA) has announced a 10% share buyback plan to improve its net asset value (NAV) and reduce the discount to NAV. The buyback is set for the fiscal year ending October 31, 2025, and aims to enhance shareholder value.
September 23, 2024 | 7:05 am
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Saba Capital Income & Opportunities Fund II has announced a 10% share buyback plan to improve its NAV and reduce the discount to NAV. This move is intended to enhance shareholder value by the fiscal year ending October 31, 2025.
The announcement of a share buyback plan is generally perceived positively by the market as it indicates the company's confidence in its own value and can lead to an increase in share price. The plan to repurchase up to 10% of shares aims to improve NAV and reduce the discount, which is likely to be seen as a shareholder-friendly move.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100