MRC Global Inc. announced on January 3, 2025, that its Board of Directors authorized a new $125 million share repurchase program. This program is set to expire on January 2, 2028, providing a multi-year window for share repurchases.
The company may purchase its outstanding common shares through various methods, including open market transactions, block purchases, and privately negotiated transactions, in accordance with federal securities laws. This initiative reflects management's confidence in the company's future and its enhanced financial flexibility.
Rob Saltiel, MRC Global President & CEO, highlighted that this program aligns with the company's three-pronged capital allocation strategy: targeting a net debt leverage ratio of less than 1.5x, returning cash to shareholders, and investing in future growth. The company anticipates beginning the execution of this share repurchase program in the second quarter of 2025.
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