AZZ Inc. Announces Recommencement of Stock Repurchase Program

Core Viewpoint - AZZ Inc. has resumed its stock repurchase program, utilizing a $100 million Share Repurchase Program and a 10b5-1 plan to facilitate share buybacks while ensuring compliance with insider trading laws [1][2][3]. Group 1: Stock Repurchase Program - The company has purchased approximately$46.8 million worth of shares to date, leaving a remaining balance of $53.2 million available for future repurchases under the program [1]. - The 10b5-1 plan allows AZZ to repurchase shares during periods when it might otherwise be restricted, thus supporting its disciplined capital allocation strategy [2][3]. - A third-party broker will execute the repurchases under the 10b5-1 plan, adhering to predetermined parameters regarding timing, price, and volume [3]. Group 2: Management's Commitment - The President and CEO of AZZ Inc. emphasized the company's commitment to returning value to shareholders while maintaining flexibility and compliance with regulatory requirements [3]. - The resumption of stock purchases is seen as a strategic move to opportunistically repurchase shares while still funding growth initiatives and deploying capital to enhance shareholder value [3]. Group 3: Company Overview - AZZ Inc. is recognized as a leading independent provider of hot-dip galvanizing and coil coating solutions, serving a broad range of end-markets [5]. - The company's business segments offer sustainable metal coating solutions that improve the longevity and appearance of essential infrastructure and products [5].