RTTNews | Oct 13, 2021 08:58AM EDT

08:58 Wednesday, October 13, 2021 (RTTNews.com) - Commercial Metals Company (CMC) said its Board has authorized a common stock repurchase program of up to $350 million. The program will cancel and replace the existing plan, which had $27 million remaining under its authorization as of August 31, 2021.

Also, the company's Board declared a regular quarterly cash dividend of $0.14 per share of common stock, an increase of $0.02, or 17%, per common share.

"Today's announcement reflects a well-balanced capital allocation strategy that will continue to fund value-accretive growth, while returning a meaningful portion of CMC's free cash flow to shareholders," said Barbara Smith, CEO.

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