Academy Sports + Outdoors Announces New $700 Million Share Repurchase Program and Quarterly Cash Dividend
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Academy Sports and Outdoors, Inc. (Nasdaq: ASO) announced a new $700 million share repurchase program and a quarterly cash dividend. The new program replaces the previous one, which had $423 million remaining, and is effective for three years starting December 4, 2024.
December 04, 2024 | 9:30 pm
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Academy Sports and Outdoors, Inc. announced a $700 million share repurchase program and a quarterly cash dividend. This move is likely to positively impact the stock price by reducing the number of shares outstanding and returning value to shareholders.
The announcement of a $700 million share repurchase program is significant as it indicates the company's confidence in its financial health and future prospects. Share repurchases reduce the number of shares outstanding, potentially increasing earnings per share and stock price. Additionally, the quarterly cash dividend provides direct returns to shareholders, further enhancing investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100