Kontoor Brands Expects to Repurchase $450M Of Stock In Q4 After Successful Divestiture of Lee Brand
Expect to repurchase $450 million of common stock in the fourth quarter, including $400 million through an Accelerated Share Repurchase program
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Why It Matters
Kontoor sold a brand and now has extra cash to buy back stock. When companies buy their own stock, it can mean they think the price is fair.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
Disclosure: Educational and informational purposes only. Not financial advice. We educate, not advise. Market data may be delayed up to 15 minutes unless marked real-time. Past performance is not indicative of future results.