The Board of Directors of Murphy USA Inc. recently authorized a new share repurchase authorization of up to $1.5B to begin upon completion of the current $1B authorization and to be executed by December 31, 2028. The new authorization reaffirms the company’s commitment to supplement organic growth initiatives with shareholder distributions, including its dividend growth plan, to maximize value creation over time. "Shareholder value creation is at the forefront of Murphy USA’s strategy, and as part of that strategy we remain deeply committed to returning capital to shareholders," said President and CEO Andrew Clyde. "We are increasingly confident in the future of Murphy USA given our exceptional operating performance, accelerating organic growth profile and ongoing business improvement initiatives. This timeframe provides management added flexibility over a 5-year window to fully fund a growing store pipeline and allocate increasing free cash flow to the highest and best return investments, prioritizing share repurchase given our view of the future potential of Murphy USA."
Published first on TheFly
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