Arch Coal Backs FY19 Sales Volume Guidance; Boosts Share Buyback

(RTTNews) - While reporting financial results for the first quarter, Arch Coal, Inc. (ARCH) on Tuesday continues to expect full year total sales volume for 2019 between 86 million and 92 million tons.

Its board also approved the next quarterly cash dividend payment of $0.45 per common share, which is scheduled to be paid on June 14, 2019 to stockholders of record at the close of business on May 31, 2019.

Further, the company's board authorized an additional $300 million of expenditures for share buybacks, bringing the total authorization since the program's launch to $1.05 billion, in keeping with its strong and ongoing capital return progress. With this increase, Arch had $388 million remaining under its existing authorization at March 31, 2019.