CSW Industrials Adopts New $100M Stock Buyback; Boosts Credit Facility - CSW Industrials (NASDAQ:CSWI)


  • CSW Industrials Inc CSWI Board of Directors has authorized a new $100 million share repurchase program, replacing the existing $100 million program.
  • Under the company’s prior programs, it has repurchased 1.9 million shares to date.
  • Under the newly authorized program, shares may be repurchased from time to time in the open market or in privately negotiated transactions.
  • The Board of Directors has established an expiration date of December 31, 2024, to complete the repurchase program.
  • CSW has increased the revolving credit facility commitment from $400 million to $500 million.
  • On May 18, 2021, CSWI entered into a five-year, $400 million Revolving Credit Facility agreement that contained a $150 million accordion feature.
  • It will deploy the incremental commitment for general corporate purposes and to support its strategic growth initiatives.
  • The company held $13.6 million in cash and equivalents as of September 30, 2022.
  • Price Action: CSWI shares are trading higher by 0.67% at $115.14 on the last check Friday.
  • Photo Via Company


Image and article originally from www.benzinga.com. Read the original article here.