News Corporation has announced its buy-back program for its Nasdaq-listed Class A common stock and Class B common stock. The total number of securities on issue in the class of securities to be bought back is 375,500,168. The company has proposed to buy back up to an aggregate of US$1 billion of Class A common stock and Class B common stock.
As of the most recent notification, the company has bought back a total of 18,284,700 securities with a total consideration of US$348,901,859.85. The highest price paid for the securities was US$27.09 on 11/03/2024, while the lowest price paid was US$14.88 on 29/09/2022.
The company has disclosed its intention to buy back a maximum number of securities, and as of the end of the previous day, it remains authorized to acquire up to an aggregate of US$1 billion of the Company’s Nasdaq-listed Class A common stock and Class B common stock. To date, the company has purchased approximately US$523,844,428.73 worth of Class A and Class B shares based on the total consideration paid.
The anticipated date for the buy-back to occur is 22/9/2021. This buy-back program aims to enhance shareholder value and does not include any ASX-listed CDIs.
The buy-back program does not require security holder approval and has no restrictions on foreign participation. The company intends to repurchase the securities from time to time, subject to market conditions and the market price of the Company’s stock, as well as other factors. The market has reacted to these announcements by moving the company's shares -0.1% to a price of $26.27. If you want to know more, read the company's complete 8-K report here.
