Liberty Energy Increases Share Repurchase Authorization

(RTTNews) - Liberty Energy Inc. (LBRT) said that its board has increased its share repurchase authorization announced on July 25, 2022 to $750 million, a $250 million increase from the previously authorized and upsized amount. The Board has also extended the authorization through July 31, 2026.

Liberty noted that it has repurchased and retired about 21.89 million shares of Class A common stock, representing 11.7% of outstanding shares, for approximately $328 million. The company has approximately $422 million available for share repurchases through July 31, 2026.

The Board has also declared a quarterly dividend of $0.07 per share of Class A common stock, to be paid on March 20, 2024 to holders of record as of March 6, 2024.