Cousins Properties Launches $250M Flexible Share Buyback Program
Cousins Properties' board approved a $250 million share repurchase program funded through non-core asset sales, retained cash, debt financing and ATM share settlements. Repurchases will occur opportunistically in open market or private transactions with no set expiration or obligation to repurchase specific amounts.
1. Board Approval of $250M Repurchase Program
Cousins Properties’ board of directors has authorized the repurchase of up to $250 million of outstanding common shares under a newly established program, signaling confidence in the company’s cash flow and valuation.
2. Funding Mechanisms for Repurchases
The program may be funded with proceeds from non-core asset sales, retained cash, debt financing and the settlement of common shares issued under the company’s ATM program, diversifying funding sources and preserving liquidity.
3. Execution Flexibility and Conditions
Repurchases can occur in open-market or privately negotiated transactions in compliance with federal securities laws, with timing, price and volume determined by market conditions; the program has no expiration date and may be suspended or discontinued at any time.