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S&P: Stock buybacks more than doubled in in 2010

S&P: Stock buybacks more than doubled in in 2010

America's biggest corporations more than doubled their repurchases of stock last year in another sign of confidence in the economic recovery.
Standard & Poor's said Wednesday that S&P 500 companies spent $299 billion last year to buy back their shares. That's up from the $138 billion spent in 2009.
In the fourth quarter, buybacks surged 81 percent compared with the same quarter a year ago, to $86 billion.
Despite the big gains, buybacks last year were still just half of their pre-recession level in 2007. However, buybacks are up for the sixth quarter in a row.
Companies have increasingly been using cash built up in the recession to repurchase shares. Those moves typically please investors who see the value of their shares rise.


Updated : 2021-08-05 05:06 GMT+08:00