Cooper Standard Announces $150M Share Repurchase Program

Cooper Standard Announces $150M Share Repurchase Program

The share repurchase program, which is effective as of Nov. 6, 2018, replaces the previous $125 million authorization to repurchase shares approved in March 2016.

Cooper-Standard Holdings Inc. announced that its board of directors approved a share repurchase program authorizing the company to repurchase, in the aggregate, up to $150 million of its outstanding common stock. The share repurchase program, which is effective as of Nov. 6, 2018, replaces the previous $125 million authorization to repurchase shares approved in March 2016. Of the $45.3 million remaining from the previous authorization as of Dec. 31, 2017, the company utilized $43.5 million during the second quarter of 2018 through open market and accelerated share repurchases.

The company expects to fund all repurchases from cash on hand and future cash flows from operations. The company is not obligated to acquire a particular number of shares and the program may be discontinued at any time at the company’s discretion.

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