LSB Industries, Inc. (LSB): Board Authorizes $150 Million Stock Buyback Program
Buybacks
May 9, 2023
May 8, 2023
LSB Industries, Inc. (LSB), a leading diversified manufacturing company, has announced that its Board of Directors has approved a stock repurchase program. LSB Industries is authorized to buy back up to $150 million of its outstanding common stock.
Mark Behrman, President, and CEO of LSB Industries, said that the company's undervalued stock prompted the decision to authorize the buyback program. LSB Industries views its stock as an attractive investment and aims to create shareholder value through ongoing operational improvement, organic growth opportunities, potential debt reduction, and repurchasing its common stock.
LSB Industries can repurchase shares in the open market, private transactions, or any trading plan in accordance with applicable securities laws and regulations. The timing and amount of shares repurchased will depend on several factors, including the availability of stock, general market conditions, trading price, alternative capital uses, and LSB's financial performance.
The company's management will make repurchases at its discretion at prices that are attractive and in the best interest of LSB Industries and its stockholders. The repurchase program is subject to suspension, termination, or modification at any time, including market conditions, the cost of repurchasing shares, liquidity, and other relevant factors.
The repurchase program does not obligate LSB Industries to purchase any specific number of shares. It gives LSB Industries the flexibility to make purchases when management believes that it is in the best interest of the company and its shareholders.
Members of LevelFields received the alert of this event on May 8, 7:20 AM ET
Join LevelFields now to be the first to know about events that affect stock prices and uncover unique investment opportunities. Choose from events, view price reactions, and set event alerts with our AI-powered platform. Don't miss out on daily opportunities from 6,300 companies monitored 24/7. Act on facts, not opinions,and let LevelFields help you become a better trader.
Join LevelFields now to be the first to know about events that affect stock prices and uncover unique investment opportunities. Choose from events, view price reactions, and set event alerts with our AI-powered platform. Don't miss out on daily opportunities from 6,300 companies monitored 24/7. Act on facts, not opinions, and let LevelFields help you become a better trader.