Curtiss-Wright announced that the board of directors has authorized an additional $300M for future share repurchases, increasing the total available authorization to $400M, and declared a 5% increase in the quarterly dividend to 21c per share, payable July 5 to stockholders of record as of June 17. Since 2021, the company has returned in excess of $450M via share repurchase activities. For 2024, the company expects to minimally repurchase $50M in shares via an ongoing 10b5-1 program, which is anticipated to offset potential dilution from compensation plans.
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Read More on CW:
- Curtiss-Wright price target raised to $252 from $240 at Truist
- Curtiss-Wright price target raised to $284 from $260 at Morgan Stanley
- Curtiss-Wright raise FY24 adjusted EPS view to $10.10-$10.40 from $10.00-$10.30
- Curtiss-Wright reports Q1 adjusted EPS $1.99, consensus $1.74
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