Jefferies Board Replenishes Share Buyback Authorization to $250M
JEF sits 57% above its 52-week low of $35.53.
Summary
Jefferies' board has replenished its share repurchase authorization, bringing the total back to $250 million. This action follows the initial $250 million authorization announced with Q1 results on April 7th. The company reported $197 million in share buybacks with its Q2 earnings earlier today, indicating the previous authorization had been significantly utilized. This replenishment signals a continued commitment to returning capital to shareholders and provides ongoing flexibility for share repurchases.
At the time of this announcement, JEF was trading at $55.90 on NYSE in the Finance sector, with a market capitalization of approximately $11.8B. The 52-week trading range was $35.53 to $71.04. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.