CBRE Group (CBG) Approves $250M Stock Buyback Program
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CBRE Group, Inc. (NYSE: CBG) announced that its Board of Directors has authorized the company to repurchase up to an aggregate of $250 million of its shares of Class A common stock over three years.
The repurchase program is expected to be executed through open market transactions, privately negotiated transactions, or in such other manner as determined by the company, including through plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. The timing of the repurchases and the actual amount repurchased will depend on a variety of factors, including the market price of the company’s common stock, general market and economic conditions and other factors. The stock repurchase program may be extended, suspended or discontinued at any time without notice.
“The strength of our balance sheet, considerable cash flow and resiliency of our business gives us the flexibility to return capital to shareholders while continuing to make long-term, growth-oriented investments,” said Bob Sulentic, CBRE’s president and chief executive officer.
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