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Investing.com -- Jacobs’ (NYSE: J) Board of Directors has given the green light for a new incremental share repurchase authorization, dubbed the "2025 Share Repurchase Program." This is set to allow the purchase of up to $1.5 billion of the company’s common stock over the next three years.
Bob Pragada, Jacobs Chair and CEO, highlighted that the authorization for a $1.5 billion share repurchase program is the largest in the company’s history. He emphasized that this move demonstrates the company’s faith in its strategic direction and its determination to return capital to its shareholders. Pragada further stated that this initiative is a reflection of the company’s strong financial standing and its commitment to disciplined capital allocation, with the aim to boost shareholder returns while continuing to invest in growth opportunities.
Prior to this, in 2023, the Board of Directors at Jacobs had authorized a share repurchase program allowing for the purchase of up to $1.0 billion of common stock, set to expire on January 25, 2026. This is known as the "2023 Share Repurchase Program". As of the end of the company’s fiscal first quarter of 2025, Jacobs still had $271 million in remaining authorization under the 2023 Share Repurchase Program. The company plans to fully utilize the 2023 Share Repurchase Program before commencing purchases under the newly approved 2025 Share Repurchase Program.
The 2025 Share Repurchase Program permits purchases to be made at the discretion of management, in amounts deemed appropriate by them. These purchases may be made through a variety of methods, including open market purchases, privately negotiated transactions, or otherwise in accordance with applicable federal securities laws. This program will be subject to legal and business requirements and market conditions, and can be carried out any time until January 30, 2028. However, the 2025 Share Repurchase Program may be suspended or discontinued at any time without notice.
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