Advanced Emissions Solutions, Inc. (NASDAQ:ADES) authorizes $ 20.00 million share buyback program.
L. Heath Sampson, President and CEO of ADES, commented, We are pleased to announce the continuation of our capital allocation program, which builds on over $63 million returned to shareholders through repurchases and dividends since March 2017. We continue to generate strong cash flows and maintain a solid balance sheet and this open market repurchase program is consistent with our balanced approach to capital allocation, while still allowing us to execute on finalizing our recently announced acquisition.
The press release noted that the repurchases will be funded from cash on-hand.
Based on previous trading day last sale of $9.71, the program would allow the repurchase of $ 2.06 million shares.
According to the previous trading day last sale of ADES was $9.71, representing a 38.71 % increase from the 52 week low of $7.00 and a 21.5 % decrease over the 52 week high of $12.37.
Advanced Emissions Solutions, Inc. has a market capital of $193.38 million and is part of the Industrial Goods sector and Pollution & Treatment Controls industry.