DNOW Inc. (DNOW), a distributor of downstream energy and industrial products, Friday said that its Board has authorized a new share repurchase program of up to $160 million, effective immediately. The company's shares were more than 8 percent up in pre-market.
DNOW noted that it has successfully completed its previously announced $80 million buyback.
"The continued execution of our strategy and accompanying growth initiatives supports our confidence in DNOW's continued cash flow generation capabilities and improved earnings profile," said David Cherechinsky, President and CEO of DNOW.
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