Curtiss-Wright Announces $100 Million Expansion of 2024 Share Repurchase Program
Curtiss-Wright (NYSE: CW) has announced a $100 million expansion of its 2024 share repurchase program, bringing the total expected annual share repurchases to $150 million in 2024. The company's Board of Directors has also declared a quarterly dividend of $0.21 per share on Curtiss-Wright Common Stock, payable on October 11, 2024. CEO Lynn M. Bamford emphasized the company's commitment to a disciplined capital allocation strategy, focusing on organic growth, strategic acquisitions, and returning capital to shareholders. The expanded program reflects the Board's confidence in Curtiss-Wright's ability to deliver profitable growth and strong free cash flow generation. The company is currently executing its existing $50 million share repurchase program and will begin the additional $100 million repurchase immediately via a 10b5-1 program.
Curtiss-Wright (NYSE: CW) ha annunciato un potenziamento di 100 milioni di dollari del suo programma di riacquisto azioni per il 2024, portando il totale previsto per i riacquisti annuali a 150 milioni di dollari nel 2024. Il Consiglio di Amministrazione della società ha anche dichiarato un dividendo trimestrale di 0,21 dollari per azione sulle azioni ordinarie di Curtiss-Wright, pagabile il 11 ottobre 2024. Il CEO Lynn M. Bamford ha sottolineato l'impegno dell'azienda verso una strategia disciplinata di allocazione del capitale, concentrandosi sulla crescita organica, acquisizioni strategiche e restituzione di capitale agli azionisti. Il programma ampliato riflette la fiducia del Consiglio nella capacità di Curtiss-Wright di generare crescita profittevole e una forte generazione di flusso di cassa libero. L'azienda sta attualmente eseguendo il suo programma esistente di riacquisto azioni da 50 milioni di dollari e inizierà immediatamente il riacquisto aggiuntivo di 100 milioni di dollari tramite un programma 10b5-1.
Curtiss-Wright (NYSE: CW) ha anunciado una expansión de 100 millones de dólares en su programa de recompra de acciones para 2024, elevando el total esperado de recompras anuales a 150 millones de dólares en 2024. La Junta Directiva de la empresa también ha declarado un dividendo trimestral de 0,21 dólares por acción sobre las acciones comunes de Curtiss-Wright, pagadero el 11 de octubre de 2024. La CEO Lynn M. Bamford enfatizó el compromiso de la compañía con una estrategia disciplinada de asignación de capital, enfocándose en el crecimiento orgánico, adquisiciones estratégicas y la devolución de capital a los accionistas. El programa ampliado refleja la confianza de la Junta en la capacidad de Curtiss-Wright para generar un crecimiento rentable y una fuerte generación de flujo de caja libre. La empresa está ejecutando actualmente su programa de recompra de acciones existente de 50 millones de dólares y comenzará la recompra adicional de 100 millones de dólares de inmediato a través de un programa 10b5-1.
Curtiss-Wright (NYSE: CW)는 2024 주식 매입 프로그램의 1억 달러 확장을 발표하며, 2024년 총 예상 연간 주식 매입액이 1억 5천만 달러에 이를 것이라고 밝혔습니다. 회사의 이사회는 또한 Curtiss-Wright 보통주에 대해 주당 0.21달러의 분기 배당금을 선언하였으며, 이는 2024년 10월 11일에 지급될 예정입니다. CEO Lynn M. Bamford는 조직의 유기적 성장, 전략적 인수 및 주주에게 자본을 환원하는 데 집중하는 규율 있는 자본 배분 전략에 대한 회사의 약속을 강조했습니다. 확장된 프로그램은 이사회가 Curtiss-Wright의 수익성 있는 성장과 강력한 자유 현금 흐름 생성 능력에 대한 신뢰를 반영합니다. 회사는 현재 5천만 달러의 기존 주식 매입 프로그램을 실행 중이며, 즉시 추가 1억 달러의 매입을 10b5-1 프로그램을 통해 시작할 것입니다.
Curtiss-Wright (NYSE: CW) a annoncé une expansion de 100 millions de dollars de son programme de rachat d'actions pour 2024, portant le total des rachats d'actions annuels prévus à 150 millions de dollars en 2024. Le Conseil d'Administration de l'entreprise a également déclaré un dividende trimestriel de 0,21 dollar par action sur les actions ordinaires de Curtiss-Wright, payable le 11 octobre 2024. La PDG Lynn M. Bamford a souligné l'engagement de l'entreprise envers une stratégie d'allocation du capital disciplinée, axée sur la croissance organique, des acquisitions stratégiques et le retour de capital aux actionnaires. Le programme élargi reflète la confiance du Conseil dans la capacité de Curtiss-Wright à générer une croissance rentable et un fort flux de trésorerie disponible. L'entreprise exécute actuellement son programme de rachat d'actions existant de 50 millions de dollars et commencera immédiatement le rachat supplémentaire de 100 millions de dollars via un programme 10b5-1.
Curtiss-Wright (NYSE: CW) hat eine Erweiterung des Aktienrückkaufprogramms um 100 Millionen Dollar für 2024 angekündigt, was die erwarteten jährlichen Aktienrückkäufe auf 150 Millionen Dollar im Jahr 2024 anhebt. Der Vorstand des Unternehmens hat auch eine vierteljährliche Dividende von 0,21 Dollar pro Aktie auf Stammaktien von Curtiss-Wright erklärt, die am 11. Oktober 2024 zahlbar ist. CEO Lynn M. Bamford betonte das Engagement des Unternehmens für eine disziplinierte Kapitalallokationsstrategie, die sich auf organisches Wachstum, strategische Übernahmen und die Rückführung von Kapital an die Aktionäre konzentriert. Das erweiterte Programm spiegelt das Vertrauen des Vorstands in die Fähigkeit von Curtiss-Wright wider, profitables Wachstum und eine starke Generierung von freiem Cashflow zu erzielen. Das Unternehmen führt derzeit sein bestehendes Aktienrückkaufprogramm in Höhe von 50 Millionen Dollar aus und wird sofort mit dem zusätzlichen Rückkauf von 100 Millionen Dollar über ein 10b5-1-Programm beginnen.
- Expansion of share repurchase program by $100 million, totaling $150 million for 2024
- Quarterly dividend of $0.21 per share declared
- Board's confidence in company's ability to deliver profitable growth and strong free cash flow
- $300 million remaining open repurchase authorization after 2024 program completion
- None.
Insights
Curtiss-Wright's announcement of a
The maintained quarterly dividend of
Curtiss-Wright's expanded share repurchase program reflects a broader trend among companies with strong cash positions in the current market environment. This move can be seen as a defensive strategy, potentially protecting the stock from market volatility. The timing suggests management's belief that the stock is undervalued, which could attract value investors.
However, investors should consider the opportunity cost of such a large repurchase program. While it can boost shareholder value, it may limit funds available for strategic acquisitions or R&D investments. The market's reaction will depend on how investors view the balance between immediate returns and long-term growth prospects. Overall, this announcement is likely to be viewed favorably, especially by investors focused on capital returns.
Declares Quarterly Dividend Of
“Curtiss-Wright is committed to a disciplined capital allocation strategy focused on supplementing our organic growth with strategic acquisitions, reinvesting in our business, and returning capital to shareholders,” said Lynn M. Bamford, Chair and Chief Executive Officer of Curtiss-Wright Corporation. “This expanded share repurchase authorization reflects our Board of Directors’ continued confidence in the Company's ability to deliver profitable growth and strong free cash flow generation into the future.”
The Company continues to execute on its existing
About Curtiss-Wright Corporation
Curtiss-Wright Corporation (NYSE: CW) is a global integrated business that provides highly engineered products, solutions and services mainly to Aerospace & Defense markets, as well as critical technologies in demanding Commercial Power, Process and Industrial markets. We leverage a workforce of approximately 8,600 highly skilled employees who develop, design and build what we believe are the best engineered solutions to the markets we serve. Building on the heritage of Glenn Curtiss and the Wright brothers, Curtiss-Wright has a long tradition of providing innovative solutions through trusted customer relationships. For more information, visit www.curtisswright.com.
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Contact: Jim Ryan
(704) 869-4621
jim.ryan@curtisswright.com
Source: Curtiss-Wright Corporation
FAQ
What is the total value of Curtiss-Wright's (CW) share repurchase program for 2024?
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How much remaining open repurchase authorization will Curtiss-Wright (CW) have after completing the 2024 program?
What is Curtiss-Wright's (CW) capital allocation strategy according to CEO Lynn M. Bamford?
