Steelcase Inc. has entered into a stock repurchase agreement to acquire 1.5 million shares of its common stock. This action reflects the company's ongoing capital allocation strategy.
Share repurchases are a method companies use to return value to shareholders. This move can reduce the number of outstanding shares, potentially increasing earnings per share.
The company's balance sheet remains strong, with total liquidity aggregating to $507.1 million at the end of the second quarter of fiscal 2025. This financial position supports such capital deployment initiatives.
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