Summary
DexCom, Inc. (DXCM) announced on July 28, 2022, that its Board of Directors has authorized a significant share repurchase program. The company intends to buy back up to $700 million of its outstanding common stock. This program is set to conclude no later than June 30, 2023, providing a clear timeframe for the buyback activity. The authorization signals management's confidence in the company's value and its commitment to returning capital to shareholders.
Key Highlights
- 1DEXCOM ANNOUNCES NEW $700 MILLION SHARE REPURCHASE PROGRAM.
- 2The repurchase program is authorized by a committee of the Board of Directors.
- 3Repurchases are authorized through June 30, 2023.
- 4The company has discretion over the timing and method of repurchases, including open market, privately negotiated transactions, or other methods.
- 5Repurchases will comply with Rule 10b-18 and other applicable regulations.
- 6The program does not obligate the company to repurchase a specific dollar amount or number of shares.
- 7The program can be extended, modified, suspended, or discontinued at any time.
Frequently Asked Questions
DexCom has authorized a share repurchase program of up to $700 million of its outstanding common stock.
The share repurchase program has a repurchase period ending no later than June 30, 2023.
DexCom has the discretion to repurchase shares through various methods, including open market transactions, privately negotiated transactions, or other means, subject to applicable regulations like Rule 10b-18.
No, the share repurchase program does not obligate DexCom to repurchase any specific dollar amount or number of shares. The company retains the flexibility to modify, suspend, or discontinue the program at any time based on market conditions and its discretion.