Peabody Plans To Accelerate Share Buyback Activity In H2 - Quick Facts

(RTTNews) - While reporting its second-quarter financial results today, Peabody Energy Corp. (BTU) said it plans to accelerate its share repurchase activity in the second half of the year. The company continues to target returns to shareholders in an amount greater than its free cash flow in 2019.

Peabody said its share repurchases during the second quarter totaled $57.2 million, with an additional $51 million in July as buyback activity resumed following a required blackout period related to the PRB/Colorado joint venture transaction announced in June. In total, Peabody has repurchased $1.22 billion under its share repurchase program, representing 25 percent of shares initially outstanding. The company noted that about $283 million remains under its current $1.5 billion share repurchase program.