Repurchase agreement

Kinetik Reports Fourth Quarter and Full Year 2022 Financial and Operating Results and Provides 2023 Guidance

Retrieved on: 
Monday, February 27, 2023

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today reported financial results for the quarter and year ended December 31, 2022.

Key Points: 
  • Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today reported financial results for the quarter and year ended December 31, 2022.
  • “We are extremely proud of the results we achieved in 2022,” said Jamie Welch, Kinetik’s Chief Executive Officer and President.
  • At the same time, our full year 2022 Capital Expenditures5 were $284.0 million, near the bottom of our $280 million to $300 million revised guidance.
  • As a result, our 2023 Guidance does not include the $70 million of commodity price benefits that we realized in 2022.

CVR Energy Reports Fourth Quarter and Full-Year 2022 Results and Announces a Cash Dividend of 50 cents per Share

Retrieved on: 
Tuesday, February 21, 2023

Increased quarterly cash dividend to 50 cents for the fourth quarter 2022, bringing the cumulative cash dividends declared for 2022 to $5.30 per share, including special dividends.

Key Points: 
  • Increased quarterly cash dividend to 50 cents for the fourth quarter 2022, bringing the cumulative cash dividends declared for 2022 to $5.30 per share, including special dividends.
  • Fourth quarter 2022 EBITDA was $313 million, compared to fourth quarter 2021 EBITDA of $116 million.
  • Adjusted EBITDA for the fourth quarter of 2022 was $388 million, compared to adjusted EBITDA of $109 million in the fourth quarter of 2021.
  • Today, CVR Energy announced a fourth quarter 2022 cash dividend of 50 cents per share.

CVR Partners Reports Fourth Quarter and Full-Year 2022 Results and Announces a Cash Distribution of $10.50

Retrieved on: 
Tuesday, February 21, 2023

Declared a fourth quarter 2022 cash distribution of $10.50 per common unit, bringing the cumulative cash distributions declared for 2022 to $24.58 per common unit.

Key Points: 
  • Declared a fourth quarter 2022 cash distribution of $10.50 per common unit, bringing the cumulative cash distributions declared for 2022 to $24.58 per common unit.
  • EBITDA was $122 million for the fourth quarter of 2022, compared to EBITDA of $93 million for the fourth quarter of 2021.
  • “CVR Partners reported strong results for the full-year 2022 despite planned turnarounds at both nitrogen fertilizer production facilities,” said Mark Pytosh, Chief Executive Officer of CVR Partners’ general partner.
  • CVR Partners previously announced that it will host its fourth quarter and full-year 2022 Earnings Conference Call on Wednesday, February 22, at 11 a.m. Eastern.

Tri Pointe Homes, Inc. Reports 2022 Fourth Quarter and Record Full Year Results and Announces New Stock Repurchase Program

Retrieved on: 
Tuesday, February 21, 2023

INCLINE VILLAGE, Nev., Feb. 21, 2023 (GLOBE NEWSWIRE) -- Tri Pointe Homes, Inc. (the “Company”) (NYSE: TPH) today announced results for the fourth quarter ended December 31, 2022 and full year 2022. The Company also announced that its Board of Directors has approved a new stock repurchase program authorizing the repurchase of up to $250 million of common stock through December 31, 2023 (the “Repurchase Program”).

Key Points: 
  • The Company also announced that its Board of Directors has approved a new stock repurchase program authorizing the repurchase of up to $250 million of common stock through December 31, 2023 (the “Repurchase Program”).
  • In light of these circumstances, our team prioritized delivering our high margin homes in backlog and planning for success in 2023.
  • The Company is not obligated under the Repurchase Program to repurchase any specific number or dollar amount of shares of common stock, and it may modify, suspend or discontinue the Repurchase Program at any time.
  • Participants should ask for the Tri Pointe Homes Fourth Quarter 2022 Earnings Conference Call.

Schneider National, Inc. increases quarterly dividend and announces share repurchase program

Retrieved on: 
Wednesday, February 1, 2023

The dividend is expected to be paid on April 10, 2023.

Key Points: 
  • The dividend is expected to be paid on April 10, 2023.
  • On January 31, 2023, its Board of Directors approved a new stock repurchase program (the “Share Repurchase Program”) under which up to $150 million of the Company’s outstanding Class A common stock, no par value, and/or Class B common stock, no par value, may be acquired over the next three years.
  • The Share Repurchase Program is a complementary component of the Company’s capital allocation framework and will primarily serve to offset the dilutive effect of equity grants to employees over time.
  • The Share Repurchase Program may be increased or otherwise modified, renewed, suspended, or terminated by the Company at any time, without prior notice.

Civitas Resources, Inc. Repurchases $300 Million of its Common Stock

Retrieved on: 
Tuesday, January 24, 2023

Civitas Resources, Inc. (NYSE: CIVI) (“Civitas” or the “Company”), today reported that it has agreed to repurchase approximately 4.9 million shares of its common stock, par value $0.01 per share (the “Common Stock”) at a price per share of $61.00, resulting in aggregate consideration of approximately $300 million (the “Repurchase”) from its largest shareholder, Canada Pension Plan Investment Board (“CPP Investments”).

Key Points: 
  • Civitas Resources, Inc. (NYSE: CIVI) (“Civitas” or the “Company”), today reported that it has agreed to repurchase approximately 4.9 million shares of its common stock, par value $0.01 per share (the “Common Stock”) at a price per share of $61.00, resulting in aggregate consideration of approximately $300 million (the “Repurchase”) from its largest shareholder, Canada Pension Plan Investment Board (“CPP Investments”).
  • As we continue to generate future free cash flow, we will consider all options to opportunistically return cash to our shareholders.”
    As of December 31, 2022 and prior to the Repurchase, Civitas had approximately 85.1 million shares of Common Stock outstanding.
  • Following the Repurchase, Civitas will have approximately 80.2 million shares of Common Stock outstanding.
  • Following the Repurchase, CPP Investments will remain the Company’s largest shareholder and will own approximately 21% of the Common Stock.

iQIYI, Inc. Announces Repurchase Right Notification for 2.00% Convertible Senior Notes due 2025

Retrieved on: 
Thursday, February 16, 2023

The Repurchase Right entitles each holder of the Notes to require the Company to repurchase all of such holder's Notes, or any portion thereof that is an integral multiple of US$1,000 principal amount.

Key Points: 
  • The Repurchase Right entitles each holder of the Notes to require the Company to repurchase all of such holder's Notes, or any portion thereof that is an integral multiple of US$1,000 principal amount.
  • The 2023 Repurchase Date is an interest payment date under the terms of the Indenture and the Notes.
  • If all outstanding Notes are surrendered for repurchase through exercise of the Repurchase Right, the aggregate cash purchase price will be US$1,200,000,000.
  • In order to exercise the Repurchase Right, a holder must follow the transmittal procedures set forth in the Company's Repurchase Right Notice to holders (the "Repurchase Right Notice"), which is available through the Depository Trust Company and Citibank, N.A.

GasLog Partners LP Reports Financial Results for the Three-Month Period and the Year Ended December 31, 2022 and Declares Cash Distribution

Retrieved on: 
Thursday, January 26, 2023

Revenues were $105.0 million for the quarter ended December 31, 2022, compared to $88.2 million for the same period in 2021.

Key Points: 
  • Revenues were $105.0 million for the quarter ended December 31, 2022, compared to $88.2 million for the same period in 2021.
  • General and administrative expenses were $4.2 million for the quarter ended December 31, 2022, compared to $3.5 million for the same period in 2021.
  • Adjusted EBITDA (1) was $81.1 million for the quarter ended December 31, 2022, compared to $64.2 million for the same period in 2021.
  • Financial costs were $15.7 million for the quarter ended December 31, 2022, compared to $9.4 million for the same period in 2021.

BlackRock Closed-End Fund Share Repurchase Program Update

Retrieved on: 
Monday, January 9, 2023

BlackRock Advisors, LLC (“BlackRock”) released today share repurchase activity for certain BlackRock-advised closed-end funds (the “Funds”) during the quarter ended December 31, 2022.

Key Points: 
  • BlackRock Advisors, LLC (“BlackRock”) released today share repurchase activity for certain BlackRock-advised closed-end funds (the “Funds”) during the quarter ended December 31, 2022.
  • The Funds have authorized open market share repurchase programs (the “Repurchase Programs”) pursuant to which each Fund may repurchase, through November 30, 2023, up to 5% of its outstanding common shares in open market transactions.
  • The Repurchase Programs seek to enhance shareholder value by purchasing Fund shares trading at a discount from their net asset value (“NAV”) per share, which could result in incremental accretion to a Fund’s NAV.
  • Below is a summary of share repurchase activity over this past quarter and since the inception of each Fund’s Repurchase Program:
    Summary of share repurchase activity during the most recent calendar quarter ended December 31, 2022:

Amerant Bancorp Inc. Announces New Share Repurchase Program

Retrieved on: 
Monday, December 19, 2022

CORAL GABLES, Fla., Dec. 19, 2022 (GLOBE NEWSWIRE) -- Amerant Bancorp Inc. (NASDAQ: AMTB) (the “Company” or “Amerant”) today announced that its Board of Directors authorized a new share repurchase program (the “New Repurchase Program”), pursuant to which the Company may purchase, from time to time, up to an aggregate amount of $25 million of its shares of Class A common stock.

Key Points: 
  • CORAL GABLES, Fla., Dec. 19, 2022 (GLOBE NEWSWIRE) -- Amerant Bancorp Inc. (NASDAQ: AMTB) (the “Company” or “Amerant”) today announced that its Board of Directors authorized a new share repurchase program (the “New Repurchase Program”), pursuant to which the Company may purchase, from time to time, up to an aggregate amount of $25 million of its shares of Class A common stock.
  • The New Repurchase Program will be effective from January 1, 2023 until December 31, 2023.
  • The Company will not, however, repurchase shares prior to the release of 4Q 2022 earnings in January 2023.
  • The New Repurchase Program does not obligate the Company to repurchase any particular amount of Class A common stock and may be suspended or discontinued at any time without notice.