Atlassian Board Approves New $1.5B Share Repurchase Program Following Completion Of Existing $1.0B Buyback
Portfolio Pulse from Benzinga Newsdesk
Atlassian's board has approved a new $1.5 billion share repurchase program following the completion of its existing $1.0 billion buyback. The repurchases may occur through open market, private transactions, or trading plans, with no fixed expiration date.
October 31, 2024 | 8:16 pm
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Atlassian has announced a new $1.5 billion share repurchase program, which follows the completion of a previous $1.0 billion buyback. This program may positively influence the stock price by reducing the number of shares outstanding, potentially increasing earnings per share.
Share repurchase programs often lead to a positive impact on stock prices as they reduce the number of shares outstanding, which can increase earnings per share and signal management's confidence in the company's future. The lack of a fixed expiration date provides flexibility in execution.
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