Curtiss-Wright Board Authorizes Addl. $400 Mln Sharebuyback; Declares Dividend - Quick Facts

(RTTNews) - Innovative company Curtiss-Wright Corp. (CW) announced Thursday that its Board of Directors has authorized an additional $400 million for future share repurchases, increasing the total available authorization to $550 million.

Of this new authorization, the Company will immediately begin the repurchase of $200 million in additional shares via a 10b5-1 program, which is expected to be completed by the end of the year.

This will be conducted in concurrence with the existing $50 million share repurchase program being executed this year, which is now expected to result in total 2021 share repurchases of $250 million.

For 2022 and 2023, the Company expects to minimally repurchase $50 million in shares per year via a 10b5-1 program, which is anticipated to more than offset potential dilution from compensation plans.

The Company also announced that the Board of Directors declared a dividend of $0.18 per share on Curtiss-Wright Common Stock, payable October 14, 2021 to stockholders of record as of September 30, 2021.