(RTTNews) - Automotive maintenance company Valvoline Inc. (VVV), announced on Tuesday that its board has authorized an additional $175 million in share repurchases, lifting the total remaining authorization to $500 million. CEO Lori Flees said the expanded program reflects confidence in the company's long-term trajectory and free cash flow growth. Further she added, Valvoline expects to resume buybacks after releasing fiscal year results, with priorities focused on funding growth, maintaining balance sheet health and returning excess cash to shareholders. Valvoline said repurchases may be made in open market or privately negotiated transactions, including accelerated share repurchases and Rule 10b5-1 trading plans.
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