Churchill Downs Incorporated announced that its Board of Directors approved a new $500 million share repurchase program. This new authorization replaces the previous $500 million program, which was authorized in September 2021 and had $125.6 million of unused authority remaining as of March 12, 2025.
The newly approved program incorporates any unspent amount from the prior authorization, meaning it is a continuation and re-authorization of the company's commitment to returning capital to shareholders. Share repurchases may be executed in the open market or through privately negotiated transactions, at management's discretion.
This capital allocation strategy signals the company's confidence in its financial position and future cash flow generation. The program has no specified time limit and can be suspended or discontinued at any time.
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