Benzinga | Dec 13, 2021 11:40AM EST

Tempur Sealy Boosts Share Buyback Program To $1.5B

* Tempur Sealy International Inc's (NYSE:TPX) Board of Directors has increased the authorization for the share repurchase program to a total of $1.5 billion.

* Tempur Sealy repurchased about 20 million shares at an aggregate cost of approximately $700 million in the trailing twelve months that ended September 30, 2021.

* This new approval represents approximately 15% of the company's current market capitalization.

* Tempur Sealy held $503.3 million in cash and equivalents as of September 30, 2021.

* Price Action: TPX shares are trading lower by 0.47% at $44.62 on the last check Monday.