Talen Energy Corporation acquires approval for stock repurchase program

Independent power producer and infrastructure company, Talen Energy Corporation, has received approval for a new stock repurchase program. The program will allow the company to repurchase up to $300 million of its outstanding common stock through the first quarter of 2025. Talen President and CEO, Mac McFarland, expressed the company's commitment to disciplined capital allocation and prioritizing the return of capital to shareholders.

Talen Energy Corporation will fund the stock repurchase program using cash on hand. The company stated that the shares may be repurchased through open market transactions at prevailing market prices, negotiated transactions, or other means in accordance with federal securities laws. The timing, number, and value of shares repurchased will be determined by company management and will depend on factors such as the market price of the company's common stock, alternate uses of capital, and general market and economic conditions.

It is important to note that the company has no obligation to repurchase any amount of its common stock, and the program itself could be suspended, changed, or discontinued by the board of directors at any time without notice.

This stock repurchase program reflects Talen Energy Corporation's strong free cash flow and limited need for go-forward growth capital expenditures. The company sees it as an appropriate part of its overall capital allocation plan and a demonstration of its commitment to returning capital to shareholders.