Tapestry, Inc. Announces Agreements for $2.0 Billion Accelerated Share Repurchase Program
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Tapestry, Inc. has announced a $2.0 billion Accelerated Share Repurchase (ASR) program, partnering with Bank of America and Morgan Stanley. This move is part of a larger $2.8 billion share repurchase authorization.
November 22, 2024 | 12:00 pm
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Tapestry, Inc. has initiated a $2.0 billion Accelerated Share Repurchase program, which is expected to positively impact its stock price by reducing the number of shares outstanding.
The ASR program will reduce the number of shares outstanding, which typically leads to an increase in earnings per share and can boost the stock price. The involvement of major financial institutions like Bank of America and Morgan Stanley adds credibility to the program.
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