DNOW Announces $160 Million Share Repurchase Program Authorization

On January 24, 2025, DNOW Inc. (NYSE: DNOW) filed an 8-K form with the Securities and Exchange Commission (SEC), announcing key corporate developments. The company’s Board of Directors approved a share repurchase program, referred to as the Share Repurchase Program, up to $160 million for the repurchase of the currently outstanding shares of the company’s common stock.

The Share Repurchase Program, effective immediately, allows DNOW to repurchase its common stock through various means such as open market purchases, privately-negotiated transactions, block purchases, or in compliance with applicable federal securities laws, including Rule 10b-18 of the Exchange Act. The company may also utilize Rule 10b5-1 trading plans to facilitate share repurchases under this program.

While the company anticipates the share repurchases to occur based on factors including the market conditions, stock price, and alternative investment opportunities, there is no fixed schedule for these repurchases. DNOW emphasizes that any information regarding the repurchase activities will be disclosed in its periodic reports on Form 10-Q and 10-K as required by the Exchange Act.

DNOW’s CEO, David Cherechinsky, reiterated the company’s commitment to its acquisition growth strategy and organic investments. He highlighted that the expanded repurchase program reflects confidence in the company’s financial position, cash flow generation capabilities, and commitment to maximizing value for shareholders through disciplined capital allocation.

The 8-K filing also includes a press release attached as Exhibit 99.1, which provides additional details about the new Share Repurchase Program. Furthermore, the company stated that the information furnished in the current report, including the press release, will not be considered as filed information subject to certain sections of the Securities Exchange Act of 1934 or the Securities Act of 1933.

Investors and stakeholders are advised that forward-looking statements, including those related to the share repurchase activities, are subject to risks and uncertainties. DNOW does not undertake an obligation to update any forward-looking statements or information included in this report.

For further details, the full report can be accessed on the SEC’s website or through DNOW’s investor relations portal.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read DNOW’s 8K filing here.

About DNOW

DNOW Inc distributes downstream energy and industrial products for petroleum refining, chemical processing, LNG terminals, power generation utilities, and customer on-site locations in the United States, Canada, and internationally. The company provides consumable maintenance, repair, and operating supplies; pipes, manual and automated valves, fittings, flanges, gaskets, fasteners, electrical instrumentations, artificial lift, pumping solutions, valve actuation and modular process, and measurement and control equipment; and mill supplies, tools, safety supplies, and personal protective equipment, as well as artificial lift systems, coatings, and miscellaneous expendable items.