CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced that its Board of Directors has authorized the Company to repurchase up to $500 million of outstanding shares of its common stock. The authorization has no expiration date and supersedes the Company's previous share repurchase authorization.
Separately, the Company has confirmed that it expects to complete the buyback of 3% of its outstanding shares as part of its 2018 share repurchase program. Common shares issued and outstanding as of September 30, 2018, totaled 80.6 million. During the nine months ended September 30, 2018, the Company repurchased 1.8 million common shares for $87 million.
“CoreLogic has returned approximately $1.4 billion in capital to our shareholders through the repurchase of 46 million our common shares since 2010. The consistent and significant repurchase of our common shares has been a major value creator for our long-term shareholders,” said Frank Martell, President and Chief Executive Officer of CoreLogic. “The expanded share repurchase authorization provides CoreLogic with the flexibility to continue to buy back significant amounts of our current outstanding share count over the next several years.”
CoreLogic (NYSE: CLGX) is a leading global property information, analytics and data-enabled solutions provider. The Company's combined data from public, contributory and proprietary sources includes over 4.5 billion records spanning more than 50 years, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information. The markets CoreLogic serves include real estate and mortgage finance, insurance, capital markets, and the public sector. CoreLogic delivers value to clients through unique data, analytics, workflow technology, advisory and managed solutions. Clients rely on CoreLogic to help identify and manage growth opportunities, improve performance and mitigate risk. Headquartered in Irvine, Calif., CoreLogic operates in North America, Western Europe and Asia Pacific. For more information, please visit www.corelogic.com.
Safe Harbor / Forward Looking Statements
Certain statements made in this press release are forward-looking statements within the meaning of the federal securities laws, including but not limited to those statements related to the Company's share repurchase plan and plan to return capital to shareholders. Risks and uncertainties exist that may cause the results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include the risks and uncertainties set forth in Part I, Item 1A of our most recent Annual Report on Form 10-K. The forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.