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Like dividends, share repurchases are a way companies can return excess cash to shareholders. Buying back stocks in the open market not only helps support the stock price but also increases earnings per share (EPS) due to a reduced number of shares outstanding.
Below are 2 stock buybacks that grabbed our attention today:
Guidewire (NYSE:GWRE) made an announcement today, according to which it has entered into an accelerated share repurchase agreement with Morgan Stanley & Co. LLC to repurchase an aggregate of $200 million of the company’s outstanding shares of common stock, as part of its previously announced $400 million share repurchase authorization.
Miniso Group Holding Ltd (NYSE:MNSO) announced today that its board of directors authorized and approved a new share repurchase program of up to $100 million of its outstanding ordinary shares and/or American depositary shares representing its ordinary shares over a period of 12 months starting from the date on which the 2022 Share Repurchase Program was approved.
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