EQT Corporation (NYSE:EQT (ST:EQTAB)), a Pittsburgh-based energy company specializing in crude petroleum and natural gas, announced today the extension of its share repurchase program.
The Board of Directors has approved a two-year extension, now set to expire on December 31, 2026. This extension adds to the program that was initially set to end on December 31, 2024.
As of today, EQT has approximately $1.4 billion remaining in its share repurchase authorization. The company's decision to buy back shares will be influenced by various factors, including EQT's stock market price, prevailing market conditions, legal requirements, and other corporate considerations.
Share repurchase programs are often used by companies to return value to shareholders, as they can potentially increase earnings per share and the value of remaining shares by reducing the number of shares outstanding. Repurchases under the program will be made at the company's discretion and may be commenced or suspended at any time without prior notice.
The announcement indicates EQT's confidence in its financial strength and commitment to shareholder returns. The extension comes amidst a broader industry context where energy companies are balancing investment in operations with returning capital to shareholders.
The news above is based on an SEC filing.
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