Civeo Corporation announced on March 27, 2025, that its Board of Directors authorized a new share repurchase program. This program allows the company to repurchase up to 10% of its total common shares outstanding over the next twelve months.
This new authorization follows the successful completion of the previous share repurchase authorization, which covered 5% of the then total common shares outstanding and was completed in just six months. Since instituting its share repurchase program in 2021, Civeo has repurchased approximately 20% of its fully-diluted shares outstanding.
Bradley J. Dodson, Civeo's President and Chief Executive Officer, stated that this new authorization reflects the value the company sees in its stock. The timing, price, and quantity of repurchases will be at Civeo's discretion, depending on various factors including capital position, liquidity, and market conditions.
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