During its earnings release yesterday, Cleveland-Cliffs announced that during the first quarter, the company repurchased 30.4M CLF common shares, fully utilizing the remaining balance of $608M under the previously authorized $1B 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 authorized a new share repurchase program for the company to buy back up to $1.5B of its outstanding common shares. The new program does not have a specific expiration date.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CLF:
- Cleveland-Cliffs (NYSE:CLF) Slips after Q1 Results Miss Estimates
- Options Volatility and Implied Earnings Moves Today, April 22, 2024
- Cleveland-Cliffs (CLF) Q1 Earnings Cheat Sheet
- Seaport Research metals/mining analyst hold an analyst/industry conference call
- Unusually active option classes on open April 11th
