Western Refining Inc., an independent refining and marketing company headquartered in El Paso, Texas, US, has announced that is Board of Directors has authorised an additional US$200 million share repurchase programme, effective through 31 December 2016.
This authorisation is in addition to the previous programme which has approximately US$35.8 million remaining as of 21 September 2015 and which expires on 3 November 2015.
Jeff Stevens, Western's President and CEO, commented, "The authorisation of an additional share repurchase programme demonstrates our on-going commitment to return cash to our shareholders balanced with making investments to grow the company. Since the initiation of share repurchases began in 2012, the Company has repurchased approximately US$700 million in WNR stock."
Share repurchases under the new programme may be made from time-to-time through open market transactions, block trades, privately negotiated transactions or otherwise, and are subject to market conditions, as well as corporate, regulatory, and other considerations. Additionally, the Board of Directors may discontinue this share repurchase programme at any time.
Edited from press release by Angharad Lock
Read the article online at: https://www.hydrocarbonengineering.com/refining/22092015/western-refining-authorises-share-repurchase-programme-1447/