Betting on themselves: Share buybacks hit record high in 3Q
Corporations' appetite for buying back their own stock has hit a record high.
Stock buybacks by companies in the benchmark S&P 500 index climbed to $194.07 billion in the third quarter, according to data from S&P Dow Jones Indices.
Shell plans share buyback amid surging profits
LONDON (AP) — Royal Dutch Shell says it plans to repurchase $25 billion of its stock over the next two years after announcing that second-quarter earnings rose 30 percent as energy prices surged.
Earnings excluding one-time items and fluctuations in the value of inventories — the industry's favored measure of performance — rose to $4.69 billion from $3.60 billion in the same period last year. Net income jumped to $6.02 billion from $1.54 billion.
Walgreens gave investors a better-than-expected third quarter, raised its dividend and detailed a big share buyback Thursday. None of this seemed to matter once markets opened.
Shares of the nation's largest drugstore chain and its competitors tanked after Amazon.com took another step into their territory by announcing the purchase of PillPack, a relatively new online pharmacy that offers pre-sorted prescription dose packaging and home delivery.
Unilever announces share buyback, dividend boost
THE HAGUE, Netherlands (AP) — Unilever, the consumer goods multinational whose brands include Dove, Knorr and Ben & Jerry's, says it is planning a share buyback worth up to 6 billion euros ($7.4 billion) later this year.
Unilever said Thursday that sales in the first quarter were hit by unfavorable currency exchange rates and fell 5.2 percent to 12.6 billion euros ($15.6 billion) compared with the same period last year. However, the company added that underlying sales growth was 3.4 percent.
Forest City Realty Trust won’t be sold; board revamp, share buyback planned
Forest City Realty Trust won't be sold; board revamp, share buyback planned
CLEVELAND, Ohio -- One of Cleveland's best-known companies won't merge with another business or sell itself to the highest bidder.
In recent days, there's been an uptick in discussions about stock buybacks and the tax plan. I've joined the debate on both Twitter and CNBC. Here's why and how I think this matters.
First, share buybacks occur when public companies purchase outstanding shares of their own stock, thereby reducing the number of shares in circulation. The result is to raise the value of the remaining shares, so it's one way to share the wealth with shareholders.
Correction: Tax Overhaul-Company Spending story
NEW YORK (AP) — In a story Feb. 20 about the tax overhaul and companies raising dividends and share buybacks, The Associated Press reported erroneously that Sirius XM had increased its share buyback following the tax overhaul. The company is keeping the same level of buybacks as it did before the tax cuts.
A corrected version of the story is below:
Investors are winners as companies lay out tax-saving plans
Apple to sell $5 billion of debt to fund buybacks, dividends
Apple Inc. is selling bonds again to finance its current round of share buybacks and dividends.
The iPhone maker is offering $5 billion of debt in four parts, after dropping a two-year floating rate component, according to a person with knowledge of the matter. The longest portion of the sale, a 30-year security, may yield 1.1 percentage points above Treasuries, down from initial talk of around 1.25 percentage points, said the person, who asked not to be identified because the deal is private.
Samsung to boost dividends, review corporate structure
SEOUL, South Korea (AP) — Samsung Electronics said Tuesday it will increase shareholder returns and review its corporate structure as investors step up pressure to reform the South Korean tech giant's governance structure following the Galaxy Note 7 fiasco.
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- Globe NewswireADT Reports Fourth Quarter and Full Year 2018 ResultsMarch 11, 2019
- Globe NewswireEducational Development Corporation Announces New Share Repurchase ProgramFebruary 4, 2019