{"id":84269,"date":"2023-11-14T04:06:47","date_gmt":"2023-11-14T09:06:47","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/coty-increases-share-buyback-program-by-600-million\/"},"modified":"2023-11-14T04:06:50","modified_gmt":"2023-11-14T09:06:50","slug":"coty-increases-share-buyback-program-by-600-million","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=84269","title":{"rendered":"Coty increases share buyback program by $600 million"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002724067\" role=\"document\">\n<p>Coty Inc.<br \/>\n        COTY,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208645074\/composite\" class=\"positive\">+0.82%<\/bg-quote><br \/>\n       said late Monday that its board has increased the company\u2019s share buyback program authorization by an additional $600 million, to a total of about $1 billion. The goal is to accommodate a planned hedged share buyback transaction of an additional 25 million shares in fiscal 2026, the company said. The agreements are in addition to previously announced hedge transactions for the planned buyback of 27 million shares in the third quarter of fiscal 2024 and 23 million shares in fiscal 2025, the company said. The hedge transactions \u201care part of Coty\u2019s target to reduce its diluted share count toward 800 million by FY26,\u201d the company said. Coty said it expects \u201ccontinued strong free cash flow generation\u201d and to achieve a \u201csteady\u201d deleverage. Shares of Coty rose 1.3% in the extended session Monday after a rise of 0.8% in the regular session. <\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/coty-increases-share-buyback-program-by-600-million-f04f3cdd?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coty Inc. COTY, +0.82% said late Monday that its board has increased the company\u2019s share buyback program authorization by an additional $600 million, to a total of about $1 billion. The goal is to accommodate a planned hedged share buyback transaction of an additional 25 million shares in fiscal 2026, the company said. The agreements [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":78672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-84269","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coty increases share buyback program by $600 million | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Coty Inc. 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