Stock Buybacks
By The Online Investor Staff, updated Fri., Apr. 26, 1:11 PM
Slide #16. Cleveland-Cliffs Inc.
Company: |
Cleveland-Cliffs Inc. (NYSE:CLF) |
$Amount Authorized: |
$1,500,000,000 |
Buyback Details: |
Cleveland-Cliffs Inc. (NYSE:CLF) today reported first-quarter results for the period ended March 31, 2024. During the first quarter of 2024, the Company repurchased 30.4 million CLF common shares, fully utilizing the remaining balance of $608 million under the previously authorized $1 billion share repurchase program. The average stock purchase price for the entire program was $18.79 per share. Following the completion of the program, the Cliffs Board of Directors has authorized a new share repurchase program for the Company to buy back up to $1.5 billion of its outstanding common shares. The Company will have ample flexibility to buy CLF shares via acquisitions in the open market or privately negotiated transactions. The Company is not obligated to make any purchases and the program may be suspended or discontinued at any time. The new program is effective today and does not have a specific expiration date. |
Cleveland-Cliffs is a flat-rolled steel producer in North America. Co. is a supplier of iron ore pellets in North America. Co. primarily operates through one reportable segment, which operates as a flat-rolled steel producer supported by being the iron ore pellet producer as well as a prime scrap processor in North America, primarily serving the automotive, infrastructure and manufacturing, and distributors and converters markets. Co.'s Other Businesses primarily include the operating segments that provide customer solutions with carbon and stainless steel tubing products, advanced-engineered solutions, tool design and build, hot- and cold-stamped steel components, and assemblies.
CLF SEC Filing Email Alerts Service
Open the CLF Page at The Online Investor »
Open the CLF Page at The Online Investor (in a new window) »
|
April 26, 2024 1:11 PM Eastern
Hold (2.20 out of 4)
0th percentile
|
|