DNOW Announces a New $160 Million Share Repurchase Program Authorization
2025年1月24日 - 8:45PM
ビジネスワイヤ(英語)
The new share repurchase program is double in
size from the successfully executed $80 million inaugural
program
DNOW reaffirms continued priority and
commitment to its acquisition growth strategy coupled with organic
investments
The program provides a highly flexible,
shareholder friendly avenue for the direct return of capital to
shareholders
DNOW Inc. (NYSE: DNOW) (“DNOW” or the “Company”) announced today
that its Board of Directors authorized the Company’s new share
repurchase program (“repurchase program”) pursuant to which the
Company may purchase up to $160 million of DNOW Inc.’s common
stock, effective immediately. The Company has successfully
completed its previously announced $80 million repurchase
program.
David Cherechinsky, President and CEO of DNOW Inc., commented,
“We are excited to announce our new share repurchase program, which
is double in size from our previous program. The continued
execution of our strategy and accompanying growth initiatives
supports our confidence in DNOW’s continued cash flow generation
capabilities and improved earnings profile. This substantial
increase in the share repurchase program further demonstrates the
strength in our business, complements our acquisition focus and
illustrates our continued commitment to a disciplined capital
allocation strategy, delivering attractive full cycle returns and
maximizing value to our shareholders.”
Under this program, the Company may from time to time enter into
Rule 10b5-1 trading plans to facilitate the repurchase of its
common stock pursuant to its repurchase program. The Company cannot
predict when or if it will repurchase any shares of common stock as
such repurchase program will depend on several factors, including
share price, general business and market conditions and alternative
investment opportunities. The share repurchase program does not
obligate the Company to repurchase shares and may be suspended or
discontinued at any time at the Company’s discretion. Information
regarding share repurchases will be available in the Company’s
periodic reports on Form 10-Q and 10-K filed with the Securities
and Exchange Commission as required by the applicable rules of the
Exchange Act.
About DNOW Inc.
DNOW is a supplier of energy and industrial products and
packaged, engineered process and production equipment with a legacy
of over 160 years. Headquartered in Houston, Texas, with
approximately 2,500 employees and a network of locations, we offer
a broad set of supply chain solutions combined with a suite of
digital offerings branded as DigitalNOW® that provide customers
access to highly complementary digital commerce, data and
information management channels. Our locations provide products and
solutions to exploration and production, midstream transmission and
storage companies, refineries, chemical companies, utilities,
mining, municipal water, manufacturers, engineering and
construction as well as companies operating in the decarbonization,
energy evolution and renewables end markets.
Statements made in this press release that are forward-looking
in nature are intended to be “forward-looking statements” within
the meaning of Section 21E of the Securities Exchange Act of 1934
and may involve risks and uncertainties. These statements may
differ materially from actual future events or results. Readers are
referred to documents filed by DNOW Inc. with the U.S. Securities
and Exchange Commission, which identify significant risk factors
which could cause actual results to differ from those contained in
the forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20250124325861/en/
Mark Johnson Senior Vice President and Chief Financial Officer
(281) 823-4754
DNOW (NYSE:DNOW)
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DNOW (NYSE:DNOW)
過去 株価チャート
から 2 2024 まで 2 2025