USG Corp. Board Boosts Shares Buyback Program To $500 Mln - Quick Facts

(RTTNews) - While reporting its fourth-quarter financial results today, USG Corp. (USG) said its board of directors approved a $250 million increase to its share repurchase program, raising the total authorization to $500 million.

The company noted that as of December 31, 2017, $66 million remained under the corporation's previously authorized $250 million share repurchase program.

Although the board of directors did not set an expiration date for the share repurchase program, the corporation expects to execute the program within 18 months. The company anticipates repurchases will be made from free cash flow generated from the business.

Based on the January 31, 2018 closing share price, approximately 8 million shares, or 6 percent of the corporation's market capitalization as of January 31, 2018, could be repurchased based on the remaining $316 million authorization under the share repurchase program.