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The accelerated share repurchase program is part of the company’s plans to buy back $5 billion worth of shares, which it announced on December 16. This is in addition to 2.30 million shares available for repurchase under its 2016 share repurchase agreement. FDX has repurchased approximately $750 million worth of shares so far this year, as of December 16, 2021. The share repurchase agreement is expected to boost ROE and EPS for existing shareholders.
Shares of FDX have gained 1.2% in price over the past month and 1.6% over the past five days, outperforming the benchmark S&P 500 index, which retreated over this period.
