And Irving-based Vistra, the state’s biggest power generator, said Friday that its board of directors authorized spending an additional $1.65 billion on...
And Irving-based Vistra, the state’s biggest power generator, said Friday that its board of directors authorized spending an additional $1.65 billion on buybacks.
Share buybacks are generally used to boost a public company’s stock price — a move highly desired by investors because it increases the value of their holdings. It can also restrict how much companies are able to reinvest in their core businesses by shifting profits to shareholders. NRG reported a profit of $513 million for the April through June period, with $251 million attributable to its Texas market. That was a $220 million drop from the same quarter last year, which the company said resulted from a steam turbine going offline in May.“During the second quarter, we made good progress on our growth priorities while navigating volatile market conditions,” said NRG chief executive Mauricio Gutierrez.
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