PPG Board of Directors Authorizes $2.5 Billion Share Repurchase Program

PPG said its board of directors authorized the repurchase of $2.5 billion of outstanding common stock. The authorization is effective immediately, does not expire and gives management discretion in determining the conditions under which shares may be purchased. 

This program is in addition to the company’s existing share repurchase authorization, which was approved in October 2016 and had approximately $1.4 billion remaining as of Sept. 30, 2017. 

Repurchases will be made in accordance with applicable securities laws in the open market or in privately negotiated transactions. Repurchases may commence or cease without prior notice depending on economic and equity market conditions, magnitude of other cash uses, including pace and timing of acquisitions, and other factors.