Home Equities Score The Brink’s Company (BCO) Took Up The Accelerated Share Repurchase Plan Again

The Brink’s Company (BCO) Took Up The Accelerated Share Repurchase Plan Again

The Brink’s Company (BCO) stock’s price surged 7.44% on Friday to close the day at $45.32 from a previous closing price of $42.18. Company’s weekly performance stands at 12.40% while that for the month is -5.98%. Moreover it’s quarterly and half yearly performances are in green but yearly and year to date performances are in danger zone.

BCO is a leading company that focuses on providing services including payment solutions, route-based secure logistics and total cash management. The company, in order to repurchase $50 million of shares of its common stock, recently entered into an accelerated share repurchases (“ASR”) agreement with J.P. Morgan Chase Bank, N.A. 


The 2021 Backdoor Crypto Portfolio (free)

Even if you’re not actively in crypto, you deserve to know what’s actually going on...

Because while leading assets such as Bitcoin (BTC) and Ethereum (ETH) are climbing in value, a select group of public “crypto stocks” are surging right along with them. More importantly, these stocks are outpacing the returns these leading crypto assets aren already producing.

Click here to get the full story… along with our long list of backdoor Bitcoin strategies. It’s free.

Sponsored


Earlier this year in February, the company announced an authorization of $250 million for repurchasing of shares which was later on suspended temporarily because of the uncertainties created by the pandemic. The company will now be executing the ASR under that previously authorized plan.

As per the terms of the repurchase agreement, the company will pay J.P. Morgan an amount of $50 million to get hold over nearly 850,000 shares. The price of shares to be repurchased will be based on the stock’s market prices. The shares so purchased will represent about 80% of the total Brink’s has been expecting repurchasing under the ASR agreement. Through the agreement, the company is also expecting receiving additional shares which will be representing the balance of 20% of the remaining shares. Brink’s is likely to be receiving those additional shares before November 3, 2020 with the ASR transaction likely to be completing by that date.

The exact number of shares Brink’s will be repurchasing depends upon the average of the daily volume-weighted prices of its common stock during the term of the transaction. That also subject to a discount and adjustments to fulfill the conditions imposed by the ASR agreement’s terms. The number of Brink’s fully diluted shares outstanding as of June 30, 2020 was approximately 51.0 million shares. The company was to fund the ASR with cash on hand.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Why Sundial Growers (SNDL) shares have skyrocketed in intraday trading?

Shares of Sundial Growers (SNDL) have been on a skywalk. As of 10:47 AM EST, the seller, and producer of Cannabis products recorded $1.38...

What Caused 35% Pre-Market Surge In electroCore, Inc. (ECOR) Stock Today?

Shares of electroCore, Inc. (ECOR) has been surging strongly in the pre-market session today following an announcement of exclusive distribution agreement in Australia. The...

Zix Corp (ZIXI) Stock Surged 7% After-Hour For What Reason?

The stock of email security solution provider Zix Corp (ZIXI) has added 7.05% to its value in the after-hours trading on Friday. The company...

Apple Inc. (AAPL) Stocks dip but future prospects for the company seem very positive

On Thursday, Apple shares (NASDAQ: AAPL) closed at $120.99 which is 3.5% lower. In the after-hours session, the price further declined by 0.2%.  The...

Tesla Inc. (TSLA): a Game of Thrones, Tweets and Bitcoin

Tesla Inc. (NASDAQ: TSLA) shares plunged by more than 8% when the market closed on Thursday. The news that most significantly impacted this plunge...

Why Sundial Growers (SNDL) shares have skyrocketed in intraday trading?

Shares of Sundial Growers (SNDL) have been on a skywalk. As of 10:47 AM EST, the seller, and producer of Cannabis products recorded $1.38...

Shares of SOS Limited (SOS) are soaring. What’s Going on?

SOS Limited (SOS), an emerging blockchain-based company in China, is soaring in current-market trading after facing a decline of 21% in the previous open...

Aemetis, Inc. (AMTX) Is Up 45%, Is The Stock Surging For Any Reason?

The clean energy firm Aemetis, Inc. (AMTX) has been experiencing a +45.57% increase in its stock price valued at $14.31 as of 12:02 p.m....

Related News

Zix Corp (ZIXI) Stock Surged 7% After-Hour For What Reason?

The stock of email security solution provider Zix Corp (ZIXI) has added 7.05% to its value in the after-hours trading on Friday. The company...

Would Grand Capital Ventures Inc (OTC: GRCV) make a good investment now? Here’s How to Decide

GRAND CAPITAL VENTURES INC (GRCV) closed down -72.22% at $0.0025 on Friday, and has been trading within a day range between $0.0093 and $0.0022....

Why Atlas Crest Investment (ACIC) Stock Has Risen 9% After-Hour On Friday?

Atlas Crest Investment Corporation (NYSE: ACIC) stock came rising +8.91 to $12.96 in after-hour trading on Friday. The company saw its price falling -2.14%...

Were You Wondering Why Northern Dynasty (NAK) Stock Spiked 24% In Early Trades Today?

Shares of mineral exploration firm Northern Dynasty Minerals Ltd. (NYSE: NAK) has been gaining momentum in early trades today. As of 11:42 a.m. EST,...

What’s Hurting Tengasco Inc (TGC) Stock? Why Is It Down 26% Pre-Market?

Stock of oil and gas exploration firm Tengasco, Inc. (NYSE: TGC) is seeing a decline in pre-market trades today. Shares of the company were...

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get The Best Stocks To Trade Every Day!...100% Free

We do not sell or share your information with anyone.

Get Best Morning Financial Newsletter... 100% Free

Best stocks ideas

Analysts’ Upgrades & Downgrades

Insider Watchlist

Important Earnings

We do not sell or share your information with anyone.