Wesco Board Approves Share Buyback Program - Quick Facts

(RTTNews) - Wesco International (WCC) said its board approved a new $1 billion share repurchase program. The company expects to repurchase common and preferred shares from time to time subject to the company's repurchase program limit, its capital plan, market conditions and other factors.

John Engel, Wesco's CEO, said, "Following our transformational combination with Anixter in June of 2020, we have deployed cash to support the growth of our business and the integration of Anixter while rapidly deleveraging our balance sheet. Now that we expect to be within our target leverage range during the second quarter, we are adding another important tool to opportunistically drive further shareholder value."