News Corporation has provided an update on its buy-back program, with the latest notification indicating significant activity compared to the previous period.
The total number of securities bought back or in relation to which acceptances have been received is 18,876,629, a substantial increase from the previous period's 14,506. This represents a notable uptick in buy-back activity.
In terms of the total consideration paid or payable for the securities, the figure stands at US$365,031,083.24, compared to US$398,823.61 in the previous period. While the total consideration has decreased, it's important to note that this metric is still in the hundreds of millions of dollars.
The highest price paid for securities during this period was US$28.61, which was lower than the previous period's highest price of US$27.74. On the other hand, the lowest price paid was US$14.88, which is notably lower than the previous period's lowest price of US$27.24.
Additionally, the company is authorized to acquire up to an aggregate of US$1 billion of its Nasdaq-listed Class A common stock and Class B common stock. To date, the company has purchased approximately US$548,023,404.83 worth of Class A and Class B shares. This indicates that the company has made substantial progress toward reaching the authorized amount under the buy-back program.
These figures illustrate the dynamic nature of News Corporation's buy-back program and its significant impact on the company's financial position. Following these announcements, the company's shares moved -1.5%, and are now trading at a price of $27.37. If you want to know more, read the company's complete 8-K report here.
