2023-06-09 10:21:47 ET
Teekay ( NYSE: TK ) +6.5% in Friday's trading after its board authorized a new stock buyback program for as much as $25M of its outstanding common shares.
The buyback is in addition to the company's repurchase of 4.4M common shares for $25M under its previously announced $30M buyback program .
Teekay ( TK ) said it has bought back a total of 10.87M common shares, or 10.7% of the outstanding common shares at the time of the initial repurchase plan announced in August 2022.
More on Teekay:
- Financial and valuation comparison to sector peers
- Analysis: Teekay Corp.: Tankers Dividend Should Fuel Additional Share Buybacks, Buy
- Stock price return: Up 38% YTD, up 79.5% in the past 12 months
For further details see:
Teekay launches new stock buyback for up to $25M in shares