Companies including Trump Media and Technology Group (DJT), Johnson Controls International (JCI), and Darden Restaurants (DRI) have announced significant share buyback programs totaling over $10 billion. DJT will repurchase $400 million worth of shares, representing 8.3% of its market capitalization of $4.8 billion. JCI has increased its buyback authorization to $10.1 billion, accounting for 14.6% of its $69 billion market cap, with plans to return $5 billion by September 30. DRI announced a $1 billion buyback, which is nearly 4% of its $25 billion market capitalization.
As of June 23, DJT shares were down approximately 49% for the year. JCI’s buyback reflects confidence as its stock reached an all-time high closing price, while DRI’s buyback follows a 17% total return, outperforming the S&P 500. Both JCI and DRI aim to enhance shareholder returns by reducing share counts through these buybacks.
