Leidos Launches New 20M Share Buyback, Replacing Exhausted 2022 Plan
LDOS sits 18% above its 52-week low of $98.86.
Summary
Leidos authorized a new repurchase program for up to 20 million shares, replacing its prior 2022 authorization that has been exhausted. At the current price of $117, the buyback represents roughly $2.34 billion in potential repurchases, or about 16% of the company's market cap — a material return of capital. The board also declared a regular quarterly dividend of $0.43 per share. This follows a strong Q1 where the company repurchased $200 million in stock and raised guidance, and comes amid a series of major contract wins including a $2.7 billion Army hypersonics award and a $717 million Air Force task order. The buyback signals confidence in sustained cash flow generation and a commitment to shareholder returns.
At the time of this announcement, LDOS was trading at $117.00 on NYSE in the Trade & Services sector, with a market capitalization of approximately $14.5B. The 52-week trading range was $98.86 to $205.77. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.