CCC Intelligent Solutions Holdings Inc. announced a new share repurchase program of up to $500 million.
The Board of Directors authorized this program following the full utilization of a previous $300 million program in December 2024.
An accelerated share repurchase program (ASR) was initiated with Bank of America, N.A. to repurchase $300 million of common stock.
Share Repurchase Authorization
The new share repurchase program is for up to $500 million, showcasing confidence in long-term growth and capital allocation strategies.
Accelerated Share Repurchase Program
An ASR was introduced with Bank of America to repurchase $300 million of common stock, enhancing shareholder value.
Remaining Capacity
After the ASR, CCC will have $200 million remaining under the new authorization for additional repurchases from available liquidity and free cash flow.
- The share repurchase programs reflect CCC's confidence in its growth trajectory and commitment to delivering returns to shareholders.
- The ASR demonstrates proactive capital allocation strategies by utilizing incremental term loans for share repurchases.
- CCC's strong balance sheet and available liquidity provide the flexibility to innovate while returning value to shareholders.
CCC's announcement of the $500 million share repurchase authorization and $300 million ASR program highlights the company's focus on long-term growth, capital allocation discipline, and commitment to enhancing shareholder value.