Arconic Announces $200 Million Share Repurchase Authorization
Arconic Corporation (ARNC)
Last arconic corporation earnings: 1/27 06:50 am
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US:NYSE Investor Relations:
arconic.com/global/en/investors/overview.asp
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Source: Business Wire
PITTSBURGH--(BUSINESS WIRE)--Arconic Corporation (NYSE: ARNC) (“Arconic” or the “Company”) announced today that its Board of Directors approved a two-year share repurchase program authorizing the repurchase of up to $200 million of common stock.Tim Myers, Chief Executive Officer, said, “We continue to view share repurchases as a high-return capital allocation opportunity for the Company and its shareholders. Following the completion of our first $300 million repurchase authorization in the third quarter of 2022, this new program demonstrates our commitment to our long-term strategy and growth outlook. We have confidence in our ability to fund both our organic growth capital investment plans and retire shares at opportunistic levels.”Repurchases under the program may be made from time to time, as the Company deems appropriate, based on a variety of factors such as price, capital position, liquidity, financial performance, alternative uses of capital, and overall market conditions.
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