Williams Announces $1.5 Billion Share Repurchase Program
08 September 2021 - 9:00PM
Business Wire
Williams’ (NYSE: WMB) board of directors has authorized a share
repurchase program (the “Share Repurchase Program”) for the
repurchase of up to $1.5 billion of the company’s outstanding
common stock. The Share Repurchase Program is effective
immediately.
“With a strong balance sheet and excess free cash flow, we are
well positioned to execute on this attractive opportunity to invest
in Williams,” said Williams President and CEO Alan Armstrong.
“Consistent with our commitment to creating sustainable value for
our shareholders, this program is part of a broader capital
allocation strategy we are pursuing to maximize shareholder returns
in the coming years.”
Under the share repurchase authorization, repurchases can be
made from time to time using a variety of methods, which may
include open market purchases, privately negotiated transactions or
otherwise, all in accordance with the rules of the Securities and
Exchange Commission and other applicable legal requirements. The
timing and amount of any shares of the company’s common stock that
are repurchased under the share repurchase authorization will be
determined by the company’s management based on market conditions
and other factors. The company will only repurchase shares when
management believes it would not jeopardize the company’s current
credit ratings. In addition, the company only intends to execute
buybacks opportunistically in response to what it believes is a
significant stock price dislocation. The share repurchase
authorization does not obligate the company to acquire any
particular amount of common stock, and may be modified, suspended
or discontinued at any time or from time to time at the company’s
discretion.
About Williams
Williams (NYSE: WMB) is committed to being the leader in
providing infrastructure that safely delivers natural gas products
to reliably fuel the clean energy economy. Headquartered in Tulsa,
Oklahoma, Williams is an industry-leading, investment grade C-Corp
with operations across the natural gas value chain including
gathering, processing, interstate transportation and storage of
natural gas and natural gas liquids. With major positions in top
U.S. supply basins, Williams connects the best supplies with the
growing demand for clean energy. Williams owns and operates more
than 30,000 miles of pipelines system wide – including Transco, the
nation’s largest volume and fastest growing pipeline – and handles
approximately 30 percent of the natural gas in the United States
that is used every day for clean-power generation, heating and
industrial use.
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573-1092
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