Food producer, ConAgra(
CAG), announced an increased stock buyback today. The increase of up to $500 million more in stock buybacks brings the total potential buyback to $650 million.
This could cause the stock price to rise over the short term as the buybacks happen and they could stay at a rather plateau-like level thereafter. That in combination with a rather generous 3% dividend rate make this stock a buy in my mind.
I'm a bit of a buy and hold type of investor, looking for good stocks that show potential for income and value. Growth is just a bonus.