- Murphy USA Inc MUSA announced its Board of Directors authorized a new share repurchase of up to $1 billion to begin upon completion of the current $500 million authorization.
- The company will execute the new buyback by December 31, 2026.
- The new approval is a continuation of the company's updated capital allocation strategy announced in October 2020.
- Murphy held $301.3 million in cash and equivalents as of September 30, 2021.
- Price Action: MUSA shares closed higher by 1.22% at $175.45 on Wednesday.
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