DALLAS, Nov. 18, 2024 (GLOBE NEWSWIRE) -- CSW Industrials, Inc. (NASDAQ:CSWI) today announced its Board of Directors authorized a new $200 million share repurchase program, which replaces the existing $100 million program. Since the commencement of CSWI's share repurchase program in 2017, the Company has repurchased approximately 2.0 million shares for a total of $152 million.
Joseph B. Armes, CSWI Chairman, Chief Executive Officer, and President commented, "This new $200 million share repurchase program emphasizes the Board's confidence in CSWI's strong business model, future growth, and cash generation. Since the Company's spin-off in 2015, we have returned over $200 million to shareholders through share repurchases and dividends, demonstrating our commitment to enhance long-term shareholder value."
Under the newly authorized program, shares may be repurchased daily or from time to time in the open market and in privately negotiated transactions. All repurchases will be made at the Company's discretion, based on ongoing assessments of the business' capital allocation priorities, the market price of its common stock and general market conditions. The Board of Directors has established an expiration date of December 31, 2026, for completion of the repurchase program; however, the program may be extended in the future, or it may be limited or terminated at any time without notice.
About CSW Industrials
CSW Industrials is a diversified industrial growth company with industry-leading operations in three segments: Contractor Solutions, Specialized Reliability Solutions, and Engineered Building Solutions. CSWI provides niche, value-added products with two essential commonalities: performance and reliability. The primary end markets we serve with our well-known brands include: HVAC/R, plumbing, electrical, general industrial, architecturally-specified building products, energy, mining, and rail transportation. For more information, please visit www.cswindustrials.com.
Investor Relations
Alexa Huerta
Vice President Investor Relations, & Treasurer
214-489-7113
[email protected]
