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Feb 16
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$13.20
$13.24
+0.3%
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LONG
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Paul Allen
Reporter, Bloomberg
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BlueScope reported earnings and announced a $310 million share buyback and dividends, despite rejecting a takeover offer last month. The company is aggressively returning capital to shareholders (buybacks + dividends) while winding down peak capital spend. This signals management confidence in cash flow and provides a floor for the stock price following the rejected bid. LONG (Capital return thesis). Global steel demand slowdown or rising energy costs. |
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