A new corporate tax on stock buybacks hasn’t worried finance chiefs enough for them to rethink their strategy.
For Bolingbrook, Ill.-based Ulta Beauty Inc., a maker of beauty products, the impact of the tax will be minimal, finance chief Scott Settersten said.
The company’s board in March authorized a new buyback program that enables Ulta Beauty to repurchase up to $2 billion in shares.
It is set to be levied on net buybacks, meaning total shares repurchased minus new shares issued during the year.
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