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Williams Announces $1.5 Billion Share Repurchase Program

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Williams (NYSE: WMB) has announced a new Share Repurchase Program, authorizing up to $1.5 billion for the buyback of its common stock. This initiative is effective immediately and aligns with the company's strategy to maximize shareholder value.

President and CEO Alan Armstrong expressed confidence in the company’s robust balance sheet and excess free cash flow, indicating that the buyback will be opportunistically executed based on market conditions. The company aims to repurchase shares while maintaining its current credit ratings.

Positive
  • Authorization of a $1.5 billion share repurchase program.
  • Repurchases aim to maximize shareholder value and returns.
  • Strong balance sheet and excess free cash flow position for buybacks.
Negative
  • None.

TULSA, Okla.--(BUSINESS WIRE)-- Williams’ (NYSE: WMB) board of directors has authorized a share repurchase program (the “Share Repurchase Program”) for the repurchase of up to $1.5 billion of the company’s outstanding common stock. The Share Repurchase Program is effective immediately.

“With a strong balance sheet and excess free cash flow, we are well positioned to execute on this attractive opportunity to invest in Williams,” said Williams President and CEO Alan Armstrong. “Consistent with our commitment to creating sustainable value for our shareholders, this program is part of a broader capital allocation strategy we are pursuing to maximize shareholder returns in the coming years.”

Under the share repurchase authorization, repurchases can be made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions or otherwise, all in accordance with the rules of the Securities and Exchange Commission and other applicable legal requirements. The timing and amount of any shares of the company’s common stock that are repurchased under the share repurchase authorization will be determined by the company’s management based on market conditions and other factors. The company will only repurchase shares when management believes it would not jeopardize the company’s current credit ratings. In addition, the company only intends to execute buybacks opportunistically in response to what it believes is a significant stock price dislocation. The share repurchase authorization does not obligate the company to acquire any particular amount of common stock, and may be modified, suspended or discontinued at any time or from time to time at the company’s discretion.

About Williams

Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use.

Media:

media@williams.com

(800) 945-8723



Investor Contact:

Danilo Juvane

(918) 573-5075



Grace Scott

(918) 573-1092

Source: Williams

FAQ

What is the new share repurchase program announced by Williams?

Williams has authorized a share repurchase program for up to $1.5 billion of its outstanding common stock.

When is the Williams share repurchase program effective?

The Share Repurchase Program is effective immediately.

How will Williams execute its share repurchase program?

Repurchases may be conducted through open market purchases or privately negotiated transactions, based on market conditions.

What are the goals of the Williams share repurchase program?

The program aims to maximize shareholder returns and invest in the company at an attractive valuation.

What factors will influence the timing of share repurchases by Williams?

The timing and amount of shares repurchased will depend on market conditions and management's assessment of credit ratings.

Williams Companies Inc.

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Oil & Gas Midstream
Natural Gas Transmission
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United States of America
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