News Corporation provided an update on their buy-back notification to the ASX.
The buy-back notification involves repurchase programs for Class A and Class B common stock.
The company aims to repurchase up to an aggregate of US$1 billion under the 2021 and 2025 Repurchase Programs.
Type of Buy-back
Other buy-back with repurchase programs for Class A and Class B common stock.
Total Number of Securities on Issue
375,479,691 securities in the class of securities to be bought back.
Maximum Buy-back Amount
Up to an aggregate of US$1 billion authorized for each of the 2021 and 2025 Repurchase Programs.
- The announcement signals News Corporation's commitment to enhancing shareholder value through stock repurchase programs.
- The buy-back may influence the stock price by reducing the outstanding shares in the market.
News Corporation's buy-back update reflects strategic financial planning and capital allocation decisions for the benefit of shareholders.