YARDLEY, PA — Smart Sand, Inc. (NASDAQ: SND) has announced a special cash dividend and the initiation of a share repurchase program, underscoring its commitment to returning value to its shareholders. The board of directors declared a special cash dividend of $0.10 per share, payable on October 28, 2024, to shareholders recorded as of October 15, 2024.
In addition to the dividend, Smart Sand’s board has approved a share repurchase program, authorizing the company to buy back up to $10 million of its outstanding common stock through April 3, 2026. The repurchase strategy allows flexibility in terms of timing, price, and method, with purchases potentially occurring through open market transactions or private negotiations.
Charles Young, the Chief Executive Officer of Smart Sand, commented on these financial measures: “We are excited to return value to our stockholders through this initial special dividend. 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.”
The company emphasizes that while these initiatives are in place, there is no obligation to repurchase a specific number of shares, and the program can be adjusted or halted as needed. Smart Sand’s strategic focus remains on maintaining low leverage, ensuring sufficient liquidity, and generating positive free cash flow—all while looking for opportunities to enhance shareholder value.
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