CBRE expands stock repurchase authorization by $5 billion to total $9 billion

CBRE GROUP, INC.

Board approved incremental $5B authorization; existing authorization had ~$1.4B remaining as of Sep 30.
Total repurchase authorization now $9B; company ended Q3 with >$4B liquidity and low leverage.
CFO says expanded authorization timely as current valuation understates long-term growth prospects.
Since 2021, CBRE repurchased 36M shares for ~$3B at weighted avg price of $83.50 per share.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

CBRE GROUP, INC.: Amended and restated Bylaws to permit the Board to nominate more than one management member for election to the Board (effective 2024-11-21).

Change: bylaw amendment
Effective: 2024-11-21

Exact text from the filing

Article II, Section 1 has been amended to permit the Board to nominate for election to the Board more than one member of the Company's management.

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CBRE GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-263481

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