By Davit Kirakosyan
Like dividends, share repurchases are a way companies can return excess cash to shareholders. Buying back stocks in the open market not only helps support the stock price but also increases earnings per share (EPS) due to a reduced number of shares outstanding.
Kinross Gold (NYSE:KGC) announced a new, enhanced share buyback program of $300 million over the remainder of 2022. In 2023 and 2024, the company intends to allocate 75% of its excess cash (defined as free cash flow after paying interest and dividends) to share buybacks.
OSI Systems , Inc. (NASDAQ:OSIS) today announced that its board of directors has increased its current share repurchase authorization to 2,000,000 shares.
Insight Enterprises, Inc. (NASDAQ:NSIT) announced that its board of directors approved the authorization of a stock repurchase program of up to an aggregate of $300 million of the company's common stock, including $50 million which remained available under the prior authorization.