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Kinross Gold stock jumps as company promises to boost share buybacks

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Kinross said it will repurchase $300\u002Dmillion worth of shares by the end of this year. Find out more.

Kinross added that it would also allocate two-thirds of its excess cash for share buybacks in 2023 and 2024. The buybacks after this year, however, will depend on whether Kinross is able to maintain its net leverage ratio, a measure of financial health that compares debt to earnings. Kinross also said that buybacks could be paused in case of a ratings downgrade, an operational issue, or a fall in gold prices.

. “This enhanced buyback program is affordable, enables us to sustain our dividend and is a responsible allocation of capital.”Article content Kinross has looked to rebalance its portfolio in the last one year by focusing more on the Americas. Last month it completed the

 

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Kinross Gold stock jumps as company promises to boost share buybacksKinross said it will repurchase $300\u002Dmillion worth of shares by the end of this year. Find out more.
Source: nationalpost - 🏆 10. / 80 Read more »

Kinross Gold stock jumps as company promises to boost share buybacksKinross said it will repurchase $300\u002Dmillion worth of shares by the end of this year. Find out more.
Source: nationalpost - 🏆 10. / 80 Read more »