Two cybersecurity stocks have recently announced share repurchase programs, marking a big shift in their capital allocation policies. Neither has ever engaged in discretionary share repurchases. In fact, both companies have traditionally issued many shares instead. This dilutes existing shareholders, providing the opposite effect of share buybacks. Thus, the outlook for current and potential shareholders has moved in a positive direction. Dilution is likely to slow significantly, halt altogether, or even begin to reverse.
Below are the details on these two names. All metrics use data as of the June 6 close unless otherwise indicated.
