RICHMOND, Va., Nov. 02, 2023 (GLOBE NEWSWIRE) — The Brink’s Company (NYSE:BCO) a leading global provider of cash and valuables management, digital retail solutions, and ATM managed services, today announced the authorization of a new share repurchase program.
On November 2, 2023, the Brink’s Board of Directors approved a new $500 million share repurchase authorization expiring on December 31, 2025.
Mark Eubanks, president and CEO, said: “Given our strong recent performance and outlook for the future, the Brink’s Board of Directors has authorized a $500 million share repurchase program, double the size of our last two programs. The size of the program aligns with the expected increase in our free cash flow generation as we accelerate progress on our strategic objectives. The authorization allows us to continue to return capital to shareholders as a meaningful part of our capital allocation framework designed to maximize shareholder value creation.”
The new program is in addition to the existing share repurchase program expiring December 31, 2023, that had $180 million in capacity as of June 30, 2023.
About The Brink’s Company
The Brink’s Company (NYSE:BCO), a leading global provider of cash and valuables management, digital retail solutions, and ATM managed services. Our customers include financial institutions, retailers, government agencies, mints, jewelers and other commercial operations. Our global network of operations in 52 countries serves customers in more than 100 countries. For more information, please visit our website at www.brinks.com or call 804-289-9709.