Terex Authorizes New Share Buyback Program

Terex, a manufacturer of lifting and material processing products, said pre-market Tuesday it has authorized a new share repurchase program of up to $280 million. The company completed its previous share repurchase program earlier in May 2017.

CEO John Garrison said in a statement that the company had committed in December to pursuing a disciplined capital allocation strategy that included the efficient returns of capital to shareholders through share repurchases of $1 billion to $1.5 billion. “Today’s new $280 million share repurchase authorization, when combined with the $420 million of shares already repurchased in 2017 totals $700 million, demonstrating our commitment to executing this strategy,” he said.

By Brianna Stevens