The broker authorized the repurchase of $300 million in shares of its Class A common stock.
The official announcement further detailed that the program has no termination date and can be discontinued at any time.
Sara Furber, Chief Financial Officer, Tradeweb, commented:
We believe this share repurchase program is a timely and appropriate use of capital resources, reflecting the Board’s and management’s confidence in our business, the company’s strong balance sheet, and the strong cash-generative nature of our business.
The new program will permit us to continue to offset annual dilution from stock-based compensation plans, as well as opportunistically repurchase our stock. The program is an important part of our overall capital management strategy to return value to shareholders, which includes investments in the business, M&A opportunities, share repurchases, and our regular quarterly dividend.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.