Curtiss-Wright (CW) Approves $300M Buyback

Curtiss-Wright (NYSE: CW) announced that the Board of Directors approved a $300 million authorization to repurchase the Company's outstanding common stock beginning in January 2015. This new authorization follows the Company's previously authorized share repurchase program, whereby management expects to utilize the remaining $66 million balance of its prior $100 million authorization in 2014.

"As we have readily communicated, Curtiss-Wright remains committed to a balanced capital allocation strategy that focuses on significant distributions to our shareholders," said David C. Adams, President and CEO of Curtiss-Wright Corporation. "The steady paring of non-core operations continues to support expectations for a solid cash position in 2015, and both the management team and the Board believe it is appropriate to reward our shareholders. Furthermore, this announcement clearly reflects the Board's confidence in the Company's ability to continue to execute our strategic plan, aided by our solid balance sheet and expectations for strong free cash flow generation. Overall, we remain committed to a disciplined and balanced capital allocation strategy that consists of reinvesting in our business and supplementing our organic growth with strategic bolt-on acquisitions, combined with increased distributions in the form of share repurchases and dividends to drive long-term shareholder value."

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