Cameron BoD Approves Share Repurchase Authorization Increase

Cameron announced that its Board of Directors has approved an increase in the Company’s share repurchase authorization by an additional $750 million.

Cameron also intends to add debt to its capital structure in the near term, while continuing to maintain a strong investment-grade profile and a balance sheet that provides the financial flexibility to pursue its strategic objectives.

Cameron entered the fourth quarter of 2013 with an outstanding authorization of $1.050 billion. During the fourth quarter, through December 10, 2013, Cameron purchased $756.4 million, or 13.7 million, of its shares. Including the additional $750 million authorization announced today, the total remaining authorization as of December 10, 2013 is $1.044 billion.

Jack Moore, Cameron Chairman and Chief Executive officer stated, “With this additional share repurchase authorization, Cameron reaffirms its commitment to driving value for shareholders. Year to date, Cameron has returned $1.332 billion to shareholders, representing 23.5 million shares retired through share repurchase programs. In addition to capital returns, we are creating value for shareholders through focused execution of our growth strategy by leveraging the strong sales and order momentum in our core markets, expanding product and service offerings in strategic growth areas and optimizing our operational platform to maximize our potential.”

Press Release, December 11, 2013

 

Share this article

Follow Offshore Energy Today

Events>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

16th MOSCOW INTERNATIONAL OIL AND GAS EXHIBITION

The Moscow International Oil & Gas Exhibition display products like oil and gas products, oil and gas services…

read more >

Beijing International Offshore Oil & Gas Exhibition (ciooe) 2019

Beijing International Offshore Oil & Gas Exhibition (ciooe), is a regular gathering in oil & gas industry…

read more >

Lebanon International Oil & Gas Summit 2019

LIOG 2019 will delve further into the opportunities that are present in Lebanon’s energy sector…

read more >

Atyrau Oil & Gas 2019

The event program is dedicated to the most topical issues of search, exploration, development of hydrocarbons…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply