Frontdoor rises on $400 million share repurchase plan

frontdoor

07/09/2021 15:54

** Shares in home services provider  FTDR.O  jump as much as
11.1% to a one-month high of $48.66, last up 3.5%
    ** FTDR says it will repurchase $400 million of its
outstanding common stock over the next three years, using cash
on hand and from operations  urn:newsml:reuters.com:*:nBw7WzPvga
    ** "Capital structure improvements, including the recent
debt refinancing and repayment, naturally result in Frontdoor
pursuing share repurchases" - CFO Brian Turcotte
    ** Shares down about 10% this year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))