Blackbaud's board of directors has reauthorized, expanded, and replenished the company's stock repurchase program, increasing the total capacity from $800 million to $1 billion.
The company believes that repurchasing shares at the current valuation will improve shareholder value.
Blackbaud aims to use stock repurchases as a key component of its long-term capital allocation strategy to support growth and enhance shareholder returns.
Expansion of Stock Repurchase Program
The reauthorization and expansion of Blackbaud's stock repurchase program from $800 million to $1 billion demonstrate the company's confidence in its current valuation and commitment to enhancing shareholder value.
Reduction in Common Stock Outstanding
Since the initiation of the current stock repurchase program in Q4 of 2023, Blackbaud has reduced its common stock outstanding by over 10%, signaling effective capital allocation and shareholder value creation.
2025 Stock Repurchase Expectations
Based on current market valuations, Blackbaud has increased its fiscal year 2025 expected stock repurchase range to between 7.0% and 8.5% of its outstanding common stock as of December 31, 2024.
- The stock repurchase program expansion indicates Blackbaud's strong financial position and commitment to delivering value to its shareholders.
- With a focus on improving shareholder value, the company's strategy aligns with its goal of consistent revenue growth and double-digit non-GAAP EPS growth in the future.
Blackbaud's decision to reauthorize and expand its stock repurchase program reflects its confidence in the company's valuation and commitment to enhancing shareholder value. Through strategic capital allocation, Blackbaud aims to sustain growth and deliver value to its investors.