Today's Most Important Buybacks

© Reuters.

By Davit Kirakosyan

Baker Hughes (NASDAQ:BKR) announced today that its Board of Directors declared an increased quarterly cash dividend of $0.19 per share on its Class A common stock. Furthermore, the Board of Directors authorized Baker Hughes Holdings LLC to repurchase up to $2 billion of additional common units, increasing its existing share repurchase authorization, which was announced in July 2021, by $2 billion to $4 billion. The Company will use the proceeds from the sale of its Baker Hughes Holdings LLC common units to repurchase its Class A shares. Baker Hughes has repurchased approximately $1.2 billion of Class A shares under the current share repurchase authorization as of September 30, 2022.

LKQ Corporation (NASDAQ:LKQ) today announced that its Board of Directors has declared a quarterly cash dividend of $0.275 per share of common stock, reflecting a 10% increase over the prior quarterly dividend. Additionally, the company’s Board of Directors authorized a $1 billion increase and a one-year extension to its stock repurchase program, raising the aggregate authorization under the program to $3.5 billion and authorizing repurchases through October 25, 2025.

Comcast (NASDAQ:CMCSA) declared a quarterly dividend of $0.27 per share, and a huge buyback plan of $3.5 billion, much higher than what the Street was expecting.

WEX (NYSE:WEX) announced that its board of directors has authorized an amended share repurchase program of up to $650 million of the company’s common stock. The current share repurchase program, first announced in August, initially authorized the company to repurchase up to $150 million of common stock over a four-year period through August 23, 2026. This amendment increases the repurchase authorization to $650 million of common stock and shortens the duration to December 31, 2025. The company’s shares rose more than 7% today following the company’s reported Q3 beat and raised guidance.