News Corporation (ASX issuer code: NWS) has provided an update on its buy-back program for its common stock Class A. The company intends to repurchase an aggregate of US$1 billion of Class A common stock and Class B common stock, with no ASX-listed CDIs being repurchased in this program.
As of the most recent notification, the total number of securities on issue in the class to be bought back stands at 374,319,872, with a total of 21,964,293 securities bought back on the previous day before the notification. The total consideration paid or payable for the securities bought back is US$449,964,255.15.
The company has disclosed that it may purchase up to an aggregate of US$1 billion of Class A common stock and Class B common stock, and to date, the company has purchased approximately US$679,420,517.00 worth of Class A and Class B shares based on the total consideration paid.
The highest price paid for the securities was US$30.69, and the lowest price paid was US$14.88. The date of the highest price paid was 19/02/2025, and the date of the lowest price paid was 29/09/2022.
The company has not disclosed an intention to buy back a maximum number of securities, and the remaining number of securities to be bought back as at the end of the previous day is approximately US$320,579,483.00 based on the authorization 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.
The company's anticipated date for the buy-back to occur is 22/9/2021, and the buy-back is intended to enhance shareholder value.
This update comes as part of the company's ongoing efforts to optimize its capital structure and return value to its shareholders. Today the company's shares have moved -0.56% to a price of $28.24. If you want to know more, read the company's complete 8-K report here.
