Cummins has disclosed that its board of directors authorized a common stock repurchase program of $2 billion. Notably, the company recently completed its prior authorization of $2 billion, announced in 2019.
“The latest share repurchase program reinforces our commitment to delivering strong returns to shareholders and reflects our confidence in our long-term performance,” said CEO Tom Linebarger.
Since May 2014, Cummins has increased its common stock cash dividend eight times, the latest being by 7 percent in July 2021.
