Carlisle Companies Authorizes Repurchase of an Additional 5 Million Shares

Rhea-AI Summary

The Board of Directors of Carlisle Companies (NYSE:CSL) announced a new share repurchase program, allowing the buyback of up to 5 million shares of common stock. This program is set to run indefinitely or until terminated by the Board. This authorization supplements the remaining 2 million shares from a previous buyback plan initiated in February 2019. The repurchased shares will be acquired from the open market at prevailing prices or through negotiated transactions.

Positive

• Authorization for an additional buyback of up to 5 million shares, enhancing shareholder value.
• Continuing the commitment to return capital to shareholders following the previous buyback of 2 million shares.

Negative

• None.

The Board of Directors of Carlisle Companies Incorporated (NYSE:CSL) today announced a new share repurchase program that authorizes management to buy back up to an additional 5 million shares of the company’s common stock over an indefinite period of time or until terminated by the Board. These shares will be purchased at management’s direction from time-to-time in the open market at prevailing market prices, in privately negotiated transactions, or through block trades. This authorization is in addition to approximately 2 million shares remaining as of December 31, 2020, under the existing share repurchase authorization announced in February 2019.

About Carlisle Companies Incorporated

Carlisle Companies Incorporated is a diversified, global portfolio of niche brands and businesses that manufactures highly engineered products and solutions for its customers. Driven by our strategic plan, Vision 2025, Carlisle is committed to generating superior shareholder returns by combining an entrepreneurial management style under a center-led framework with a balanced approach to capital deployment, all with a culture of responsible stewardship and continuous improvement as embodied in the Carlisle Operating System. Carlisle’s markets include: commercial roofing, specialty polyurethane, architectural metal, aerospace, medical technologies, defense, transportation, industrial, protective coating, auto refinishing, agriculture, and construction. Carlisle’s worldwide team of employees generated $4.8 billion in revenues in 2019. Learn more about Carlisle at www.carlisle.com.

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FAQ

What is the new share repurchase program for CSL?

Carlisle Companies announced a new program to buy back up to 5 million shares of common stock.

How many shares remain under the previous CSL buyback authorization?

Approximately 2 million shares remain under the previous buyback authorization established in February 2019.

What impact will the share buyback have on CSL's stock price?

The share buyback is intended to enhance shareholder value, which may positively affect CSL's stock price.

When will the new CSL buyback program take effect?

The buyback program is effective immediately and will continue for an indefinite period.