Peabody Announces Additional $100 Mln For Share Repurchases - Quick Facts

(RTTNews) - Peabody (BTU) announced that its Board of Directors has declared a quarterly dividend on its common stock of $0.075 per share, payable on September 4, 2024 to stockholders of record on August 15, 2024. On August 1, the company committed an additional $100 million for share repurchases in 2024 following the continued successful advancement at Centurion, settlement of the Shoal Creek insurance claim and a favorable free cash flow outlook for the remainder of the year. At June 30, Peabody had $569.6 million remaining under existing $1.0 billion share repurchase program.

Peabody CEO Jim Grech said: "Development at Centurion remains on plan, with initial underground development rates exceeding expectations. We reached first development coal in the second quarter and expect to ship to customers beginning in the fourth quarter of 2024."