6, 2015 /PRNewswire/ -- XL Group plc ("XL" or the "Company") (NYSE: XL) announced today that the Board of Directors of the Company (the "Board") approved a new share buyback
program, authorizing the Company to buy back up to $1 billion of its ordinary shares.
The report said that the share buybacks
have helped boost Yahoo's shares roughly 74 percent this year.
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templates following new amendments to Part 18 of the Companies Act 2006.
are an attractive option in an unpredictable market.
IBM (IBM) spent the most on share buybacks
during the first quarter ($4.
DUBAI/ABU DHABI: First Gulf Bank (FGB) yesterday announced that it had initiated a share buyback
program for up to 10 percent of the bank's shares issued and traded in the market.
The decision to suspend share buybacks
follows similar action by AstraZeneca and GlaxoSmithKline, both of which announced cuts in stock repurchases last month.
3 million) share buyback
programme and was due to complete it fully by the end of September.
have been aided by the subsequent abolition of advance corporation tax.
30 midterm book closings are behind the increased share buybacks
signal confidence in a company's future
While maintaining our focus on investing in future growth, this new share buyback
programme will enable us to continue our policy of returning value to shareholders through share buybacks
and our longstanding progressive dividend policy.
According to the report, share buybacks
are usually good for existing investors as they reduce the number of shares on the open market which should boost the value of available shares.
Applying the rationale in practice Where a company's board and the management both believe that there is a major shortfall between current market value and the long-term enterprise value of a company's shares and the company enjoys adequate liquidity, a share buyback
should be considered.
Ralph Findlay, chief executive of Midlands brewer and pubs group Marston's, yesterday ruled out further share buybacks
in the current market due to concerns about gearing up the group's balance sheet.