Kyndryl Announces $300M Share Repurchase Program, Shares Rise 8%

By Bobby Samwell • Thursday, November 21 10:20 • Permanent Link

Kyndryl Holdings, Inc. has made a significant announcement, revealing a $300 million share repurchase program. This move reflects the company's confidence in its business and outlook for profitable growth. It also indicates the company's progress in expanding its margins and generating free cash flow.

The share repurchase program allows Kyndryl to repurchase shares of its common stock through various means, including open market transactions, accelerated share buyback programs, tender offers, and privately negotiated transactions. The program does not have a set expiration date and may be suspended, modified, or discontinued at any time without prior notice.

In addition to the share repurchase program, Kyndryl will be hosting an investor day, during which the executive leadership team will discuss the company's market opportunities and growth strategy. The event will be accessible via live video webcast and a replay will be available for twelve months.

Following these announcements, the company's shares moved 8.0%, and are now trading at a price of $30.81. Check out the company's full 8-K submission here.

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