Hilton Grand Vacations Board Approves New $500M Share Buyback Program

Hilton Grand Vacations Inc (NYSE:HGV) said its Board of Directors approved a two-year share repurchase plan authorizing the company to repurchase up to an aggregate of $500 million of shares.
The new repurchase plan will commence once the existing two-year repurchase program, approved in May 2022 for $500 million, is fully completed.
As of April 30, 2023, HGV had approximately $83 million remaining under the prior repurchase program.
HGV may repurchase shares in the open market, in privately negotiated transactions or in such other manners as determined by the company.
Hilton Grand Vacations held $752 million in cash and equivalents as of March 31, 2023.
Price Action: HGV shares are trading higher by 1.49% at $42.12 in premarket on the last check Monday.