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Danaos Corporation Announces Upsizing of its Share Repurchase Program by an additional $100 million

1. Danaos Corporation upsizes share repurchase program by $100 million. 2. Total repurchase program now reaches $300 million following previous $196 million buybacks. 3. Danaos operates a substantial fleet of containerships and bulk carriers. 4. The program allows flexible share buybacks under favorable market conditions.

Shares Buyback
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FAQ

Why Bullish?

The sizable increase in the repurchase program typically signals confidence in the company's valuation and financial health, potentially driving up share prices, as seen with other companies implementing similar strategies.

How important is it?

The announcement of a share buyback program is a strong indicator of a company's intent to enhance shareholder value, likely leading to positive market sentiment and price movement over the next few weeks.

Why Short Term?

In the short term, share buybacks can lead to an immediate increase in stock price due to reduced share supply, as historically demonstrated by companies like Apple during their buyback efforts.

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AAPLMSFTTSLACMA
, /PRNewswire/ -- Danaos Corporation (NYSE: DAC) announces that its Board of Directors has approved the upsizing of its common stock repurchase program by an additional $100 million. The Company has already executed on share repurchases of approximately $196 million out of the $200 million existing share repurchase program that is now being upsized to a total of $300 million. Shares may be purchased in open market or privately negotiated transactions, at times and prices that are deemed appropriate by the Company, and the program may be suspended or discontinued at any time. About Danaos Corporation  Danaos Corporation is one of the largest independent owners of modern, large-size containerships. Our current fleet of 74 containerships aggregating 471,477 TEUs and 15 under construction containerships aggregating 128,220 TEUs ranks Danaos among the largest containership charter owners in the world based on total TEU capacity. Danaos has also recently invested in the dry bulk sector with the acquisition of 10 capesize bulk carriers aggregating 1,760,861 DWT. Our fleet is chartered to many of the world's largest liner companies on fixed-rate charters. Our long track record of success is predicated on our efficient and rigorous operational standards and environmental controls. Danaos Corporation's shares trade on the New York Stock Exchange under the symbol "DAC". Visit our website at www.danaos.com SOURCE Danaos Corporation WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In Also from this source

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