Kaiser Aluminum (KALU) Adds $100M to Buyback Plan

Kaiser Aluminum (NASDAQ: KALU) has authorized an additional $100 million for share repurchases. Including the amount available under the previous authorization, as of April 15, 2015 the total available for future share repurchases under the program was $137 million.

"The 14% increase in our quarterly dividend, as announced earlier this year, along with the $100 million increase in our share repurchase authorization underscores our confidence in the outlook for our business," said Jack A. Hockema, President, CEO and Chairman. "We are very well positioned for continued long-term growth and shareholder value creation, facilitated by strong secular growth trends for automotive and aerospace applications, and improving demand for general industrial applications. In addition, our continued focus on enhancing manufacturing efficiencies will further drive earnings growth in the years ahead. With strong operating cash flow and further growth potential from our existing platform, we will continue to emphasize returning cash to shareholders through quarterly dividends and share repurchases while maintaining financial strength and flexibility to pursue organic and inorganic value-creating opportunities," stated Mr. Hockema.

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