Clean Energy Fuels Reignites $50M Share Repurchase Program to Boost Investor Value
Benzinga Newsdesk 1 year ago
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Clean Energy Fuels Corp. (NASDAQ:CLNE) today announced that its Board of Directors has determined to resume repurchases of shares of the Company's common stock pursuant to the Company's existing Share Repurchase Program.
Clean Energy Fuels Corp. (NASDAQ:CLNE) today announced that its Board of Directors has determined to resume repurchases of shares of the Company's common stock pursuant to the Company's existing Share Repurchase Program. The Program was initiated in March 2020 and the capacity for repurchases under the Program was increased to $50 million in December 2021. There is approximately $26.5 million of remaining capacity for repurchase under the Program.
With over $200 million cash on its balance sheet as of December 31, 2024, resuming the Program will allow the Company to opportunistically repurchase shares, while maintaining the ability to fund its growth initiatives.