FedEx Initiates $1.0 Billion Accelerated Share Repurchase Agreement as Part of Its Commitment to Enhance Capital Returns to Stockholders
FDXFedEx(FDX) Businesswire·2023-12-26 22:00

MEMPHIS, Tenn.--(BUSINESS WIRE)--As part of its commitment to enhance capital returns to stockholders, FedEx Corp. (NYSE: FDX) today announced that it has entered into an accelerated share repurchase ("ASR") agreement with Mizuho Markets Americas LLC (“Mizuho”) to repurchase 1.0billionofFedExscommonstockaspartofthecompanyspreviouslyannouncedsharerepurchaseprogram.UnderthetermsoftheASRagreement,FedExwillpay1.0 billion of FedEx’s common stock as part of the company’s previously announced share repurchase program. Under the terms of the ASR agreement, FedEx will pay 1.0 billion to Mizuho and receive an initial share delivery of approximat ...