Kennametal Inc. (KMT) has released an update.
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The Board of Directors has greenlit a new plan for the Company to buy back $200 million of its own common stock over the next three years. These repurchases, aligned with Rule 10b-18 of the Exchange Act, will occur periodically depending on market conditions and other influencing factors, and can be executed through open market transactions or private deals.
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For a comprehensive understanding of the announcement, you can read the full document here.