Innospec Inc. (NASDAQ: IOSP) has announced the approval of a new $50 million share repurchase program. This decision comes after the expiration of the company's prior $50 million share repurchase program in the first quarter of 2025. With over $289 million in net cash, the company's president and chief executive officer, Patrick S. Williams, highlighted the significant flexibility and balance sheet strength for further M&A, organic investment, dividend growth, and share repurchases under this renewed buyback program.
Innospec Inc. is an international specialty chemicals company with approximately 2,450 employees in 22 countries. The company's performance chemicals business creates innovative technology-based solutions for customers in various markets, including personal care, home care, agrochemical, mining, and industrial sectors. The fuel specialties business focuses on manufacturing and supplying fuel additives to improve fuel efficiency, boost engine performance, and reduce harmful emissions. Additionally, the oilfield services segment provides specialty chemicals to all elements of the oil and gas exploration and production industry. Today the company's shares have moved 1.4% to a price of $99.94. If you want to know more, read the company's complete 8-K report here.
