Civeo Corporation's Board of Directors renewed its share repurchase authorization on September 11, 2024. This authorization allows the company to repurchase up to 5% of its total common shares outstanding over the subsequent twelve months.
The renewal of the share repurchase program indicates Civeo's ongoing strategy to return capital to shareholders. Such programs can enhance shareholder value by reducing the number of shares in circulation, thereby increasing earnings per share.
The company stated it would continue to be opportunistic in pursuing these repurchases. The board retains the flexibility to increase the number of common shares that may be repurchased under this plan at any time.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.