Exxon Mobil Resumes Buybacks With $10 Billion Program
01 Février 2022 - 2:14PM
Dow Jones News
By Colin Kellaher
Exxon Mobil Corp. on Tuesday said it has initiated a program to
repurchase $10 billion worth of stock over the next 12 to 24
months, ending a more than five-year buyback hiatus.
The Irving, Texas, oil giant, which paused its robust buyback
program in 2016 to focus on paring its debt load and paying its
rich dividend, in October had said it expected to resume
repurchases this year.
Exxon, which has about 4.23 billion shares outstanding, sports a
market capitalization of nearly $319 billion based on Monday's
closing price of $75.96.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 01, 2022 07:59 ET (12:59 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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