Cummins repurchasing $500 million in shares

Aug 14, 2018 | Member News

Cummins, Inc., a Columbus, Ohio-based global engine and electrical power solutions manufacturer, recently announced that it will repurchase $500 million of the company’s common stock as part of a previously announced plan to return 75 percent of operating cash flow to shareholders this year.

 

The company said it has entered into an accelerated share repurchase agreement with Goldman, Sachs & Co. LLC. Under terms of the agreement, Cummins will repurchase the stock from Goldman, Sachs & Co., with an initial delivery of about 3 million shares based on current market prices.

 

Read more at The Republic ( http://www.therepublic.com/2018/08/10/cummins_repurchasing_500_million_in_shares)