PPG Board of Directors Approves $2.5 Billion Share Repurchase Program

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PPG has announced that its board of directors has authorized the repurchase of $2.5 billion of outstanding common stock. The authorization is effective immediately, has no expiration date, and grants management discretion in determining the conditions under which shares may be purchased.

This newly authorized share repurchase program is in addition to the company’s existing authorization approved in December 2017, which had approximately $860 million remaining as of March 31, 2024. Repurchases will be conducted in compliance with applicable securities laws, either in the open market or through privately negotiated transactions.

The commencement or cessation of repurchases may occur without prior notice, depending on various factors such as economic and equity market conditions, the extent of other cash uses (including acquisitions), and other considerations.