CHICAGO, IL--(Marketwired - March 26, 2015) - Century Aluminum Company (NASDAQ: CENX) announced today that its Board of Directors has further increased the size of the Company's ongoing share repurchase program by $50 million. Today's increase brings the total amount authorized for repurchases since the inception of the plan to $130 million, with $61 million available for future share repurchases as of March 25, 2015. Through the date of this announcement, the Company has repurchased approximately 1.2 million shares in the first quarter of 2015 for an aggregate purchase price of $19.4 million.
"We believe our current cash position and the competitive position of our businesses make this an optimal time to return value to our shareholders," said Michael Bless, the Company's President and Chief Executive Officer.
Purchases made pursuant to the share repurchase program will be made in either the open market or in privately negotiated transactions periodically as permitted by federal securities laws and other legal requirements. The timing, manner, price and amount of any repurchases will be determined by the Company in its discretion and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors. The program may be suspended or discontinued at any time and has no expiration date.
About Century Aluminum
Century Aluminum Company owns primary aluminum capacity in the United States and Iceland. Century's corporate offices are located in Chicago, IL. Visit www.centuryaluminum.com for more information.
Certified Advisors for the First North market of the OMX Nordic Exchange Iceland hf. for Global Depositary Receipts in Iceland:
Atli B. Gudmundsson, Senior Manager -- Corporate Finance, Landsbankinn hf.
Steingrimur Helgason, Director -- Corporate Finance, Landsbankinn hf.