CSW Industrials announced the Board of Directors has authorized a $75M share repurchase program over a two-year period. To date, the Company has repurchased approximately 656 thousand shares and completed the current $35 million Board-authorized share repurchase program implemented on November 11, 2016. As part of CSW Industrials' ongoing strategic planning with its Board of Directors, the Company also announced a formalized capital allocation strategy. Joseph Armes, Chief Executive Officer of CSW Industrials, said, "We are very pleased to formalize our capital allocation strategy, which will guide us as we remain focused on maximizing shareholder returns on a risk adjusted basis. The general framework of our broadly discussed capital allocation principles remains unchanged, but we believe that articulating our principles more formally adds incremental transparency and accountability to our shareholders." Capital allocation will be evaluated and prioritized on a risk-adjusted returns basis as detailed below. Investment to support organic growth opportunities. Investment in inorganic growth opportunities: The Company will prioritize accretive, synergistic acquisitions within its existing business units. The Company will also consider broader strategic opportunities as appropriate. Return of excess free cash to stockholders as appropriate through opportunistic share repurchases and dividends.
