Boise Cascade Company's Board of Directors authorized the repurchase of an additional 1.4 million shares of its common stock, effective October 30, 2024. This authorization increases the total available shares for repurchase under the existing program to approximately 2 million shares, representing about 5% of shares outstanding.
From January 1, 2024, to October 30, 2024, the Company repurchased 1.28 million shares of common stock at a cost of approximately $165 million. The expanded repurchase program provides flexibility for opportunistic share repurchases through various means, including open market transactions or privately negotiated deals.
Additionally, the Board declared a quarterly dividend of $0.21 per share on its common stock. This dividend is scheduled to be paid on December 18, 2024, to stockholders of record as of December 2, 2024, maintaining a consistent return to shareholders.
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