WASHINGTON (Reuters) - U.S. corporations have announced more than $218 billion in share buybacks since Congress enacted the Republican tax overhaul in December, an investment research firm said on Wednesday.
The California-based firm TrimTabs, which tracks corporate buybacks, said the value of buyback programs announced in February alone surged to $153.7 billion from $59.9 billion in January, smashing a previous monthly record of $133 billion in April 2015.
"Activity has certainly accelerated. Buybacks increased for five consecutive months beginning in July 2017 and have exploded in February," said TrimTabs analyst Winston Chua.
"If the pace keeps up, this year’s volume will smash totals from all other previous years going back more than a decade," he added.
Source : Yahoo
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