NASHVILLE, Tenn.--(BUSINESS WIRE)--Louisiana-Pacific Corporation (LP) (NYSE:LPX) announced today that its Board of Directors has authorized a new stock repurchase program under which the Company may repurchase up to $150 million of its common stock.
“LP remains committed to strategically deploying capital where we believe we can drive the greatest value for our shareholders,” said Brad Southern, LP Chief Executive Officer. “With the previous $100 million authorization soon to be completed, the LP Board of Directors has approved this new share repurchase authorization to be deployed opportunistically as part of our overall capital allocation strategy. This new authorization highlights the Board and management team’s continued confidence in our business and outlook, our strong cash flow generation and our focus on returning capital to shareholders.”
As a proven leader in high performance building solutions, LP Building Products manufactures uniquely engineered, innovative building products that meet the demands and needs of the building industry. Its extensive product portfolio includes durable and dependable exterior siding and trim systems, engineered wood framing and structural panels for single-family homes, multifamily projects, repair & remodel markets, light commercial facilities and outdoor buildings. LP also provides industry leading service and warranties to help customers build smarter, better and faster. Founded in 1973, LP is a global company headquartered in Nashville, Tennessee, and traded on the New York Stock exchange under LPX. For more information, visit LPCorp.com.