The Board of Directors of Murphy USA Inc. (NYSE:MUSA) recently authorized a new share repurchase authorization of up to $1.5 billion to begin upon completion of the current $1 billion 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.”
The timing and amount of any shares repurchased will be determined by the Company’s management based on its evaluation of market conditions and other factors. Repurchases may be conducted through open market transactions, privately negotiated transactions, pursuant to accelerated share repurchase programs, or otherwise. The repurchase program may be suspended or discontinued at any time. Any repurchased shares will be available for use in connection with the Company’s stock plans and for other corporate purposes.
