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YARDLEY, Pa., Oct. 3, 2024 /PRNewswire/ — Shrewd Sand, Inc. (NASDAQ: SND) (“Smart Sand” or the “Company”) introduced as of late that its board of administrators has declared a distinct money dividend at the Corporate’s familiar store of $0.10 in keeping with proportion, payable on October 28, 2024, to stockholders of document as of the related of commercial on October 15, 2024.
The Corporate additionally introduced as of late that its board of administrators authorized a proportion repurchase program authorizing the Corporate to repurchase as much as $10.0 million of the Corporate’s remarkable stocks of familiar store via April 3, 2026. The timing, means, value, and quantity of any repurchases underneath the proportion repurchase program might be ambitious via the Corporate at its discretion. Purchases could also be effected via revealed marketplace transactions, privately negotiated transactions, transactions structured via funding banking establishments, or alternative approach. The Corporate isn’t obligated to repurchase any explicit choice of stocks and this system could also be changed, suspended, or discontinued at any presen.
“We are excited to return value to our stockholders through this initial special dividend,” stated Charles Younger, the Corporate’s Leading Government Officer. “Our consistent focus on reducing costs, maintaining low leverage levels and increasing operational efficiency has provided us with the opportunity to declare this special dividend and to initiate this share buyback program. We plan to continue to be diligent in pursuing our long term goals of low leverage levels, sufficient levels of liquidity and positive free cash flow generation along with looking to return value to our stockholders opportunistically going forward.”
About Shrewd Sand:
Shrewd Sand is an absolutely built-in frac and commercial sand provide and products and services corporate, providing entire mine to wellsite proppant and logistics answers to our frac sand shoppers, and a large providing of goods for commercial sand shoppers. The Corporate produces cheap, prime constituent Northern White sand, which is a top class sand worn as a proppant to reinforce hydrocarbon healing charges within the hydraulic fracturing of oil and herbal fuel wells. The Corporate’s sand may be a top quality product worn in plenty of commercial packages, together with glass, foundry, development merchandise, filtration, geothermal, renewables, ceramics, turf & landscaping, retail, idleness and extra. The Corporate do business in logistics answers to its shoppers via in-basin transloading terminals and its SmartSystems™ wellsite locker and sand control functions. Shrewd Sand owns and operates top class sand mines and homogeneous processing amenities in Wisconsin and Illinois, that have get right of entry to to 4 Magnificence I rail traces, permitting the Corporate to bring merchandise considerably anyplace in america and Canada. For more info, please seek advice from www.smartsand.com.
Touch:
Lee Beckelman
Telephone: (281) 231-2660
Electronic mail: [email protected]
SOURCE Shrewd Sand, Inc.
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