DoorDash (DASH) Stock: $400 Million Buyback Approved

By Amit Chowdhry ● May 19, 2022
  • DoorDash Inc (NYSE: DASH) announced it has authorized a repurchase of up to $400 million shares of the company’s Class A stock. These are the details.

In a regulatory filing, it was revealed that the board of directors of DoorDash authorized the repurchase of up to $400 million shares of the company’s Class A common stock. The goal of the program is to offset a portion of the dilution associated with restricted stock units issued to employees as part of the company’s overall compensation program. 

DoorDash’s board of directors expects to assess any future repurchase programs based on the company’s balance sheet, expected free cash flow, and alternative investment opportunities at the time. And any future authorization will be approved and executed consistent with the Company’s capital allocation strategy.

Repurchases could be made from time to time through open market repurchases or through privately negotiated transactions subject to market conditions, applicable legal requirements, and other relevant factors. 

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.