EXE · 10-Q · 2026Q1 · Full report
Capital Return Program
EXPAND ENERGY Corp · 2026-04-28 · Importance 46 · Surprise 42
The Board has an existing $1.0 billion authorization to repurchase common stock and/or warrants (authorized October 2024); during the Current Quarter the company repurchased 0.6 million shares for $66 million and subsequently repurchased ~0.9 million shares for $84 million through April 24, 2026. In 2025 the company prioritized paying a base dividend of $2.30 per share and $1.0 billion of annual net debt reduction while distributing 75% of remaining free cash flow to repurchases and additional dividends; in 2026 the company continues to prioritize debt reduction and returning cash to shareholders. The company also declared a base quarterly dividend of $0.575 per share payable June 4, 2026. These distributions are managed alongside liquidity and credit agreement restrictions and may fluctuate with cash generation and covenant limits.
Key facts
- In October 2024, the Board of Directors authorized the Company to repurchase up to $1.0 billion, in aggregate, of the Company’s common stock and/or warrants.
- In 2025, the Company prioritized $1.0 billion of annual net debt reduction.
- In 2025, 75% of remaining free cash flow was to be distributed, as market conditions warranted, through share repurchases and additional dividend payments.
- During the Current Quarter, the Company repurchased 0.6 million shares for an aggregate price of $66 million.
- Following the end of the Current Quarter, the Company repurchased approximately 0.9 million shares for an aggregate price of $84 million through April 24, 2026.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | committed | -2.9% | In October 2024, the Board of Directors authorized the Company to repurchase up to $1.0 billion, in aggregate, of the Company’s common… |