5 big stock buybacks: Wendy's, Victoria's Secret

By Davit Kirakosyan

Invesing.com -- Here are 5 of last week's biggest share-buyback announcements, all first covered on InvestingPro.

Wendy's (NASDAQ:WEN) jumped 6% Friday after the company announced a new $500 million share repurchase authorization, expiring in February 2027. The company also doubled its dividend to $0.25 per share and released strong preliminary sales numbers for the fourth quarter. For the week, shares were up 1.5%.

Victoria's Secret & Co (NYSE:VSCO) shares gained more than 12% on Wednesday after the company announced a new share-repurchase program of up to $250 million of the company’s common stock. The new share repurchase program is eligible to begin upon exhaustion of the current $250 million program, which is scheduled to be completed by the end of January.

Agilent Technologies Inc. (NYSE:A) shares rose more than 5% on Tuesday after the company announced a new share buyback program of up to $2 billion of the company’s common stock.

SYNNEX Corp. (NYSE:SNX) shares rose more than 11% after the company’s reported Q4 beat and announced a new $1 billion share repurchase program and a dividend hike on Tuesday. The share repurchase program is authorized for up to three years, replacing the previous three-year program. The company also increased its quarterly cash dividend by 17% to $0.35 per common share, payable on January 27, 2023 to stockholders of record as of the close of business on January 20, 2023.

Veradigm Inc (NASDAQ:MDRX), formerly Allscripts Healthcare Solutions, Inc., said it would repurchase up to $250 million of its common stock. This replaces the previous $250 million authorization, which was almost fully utilized in 2022. Shares climbed 9% for the week.

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