(RTTNews) - Phillips 66 (PSX) said the company plans to resume its share repurchase program in the second quarter of 2022. The company suspended share repurchases in March 2020 to preserve liquidity. The temporary suspension was in response to the global economic disruption caused by COVID-19. Phillips 66 has $2.5 billion available under the current authorization, which has no expiration date.
Phillips 66 noted that it may repurchase outstanding shares of common stock from time to time in open market or privately negotiated transactions, including accelerated share repurchase transactions, block trades or pursuant to 10b5-1 trading plans.
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