AMC Networks says this morning that its board has increased the company’s stock repurchase authorization by $500 million — giving itself, and its stock, a vote of confidence following a month when its share price declined about 10.4%.
This morning’s news contributed to a slight lift in AMC’s stock price in pre-market trading.
The new authorization adds to the $500 million repurchase plan AMC’s board approved in early 2016.
CFO Sean Sullivan told analysts early last month…
Source: New feed