Your Tax Dollars at Work

Remember all that braying about how corporations would use offshore profit to add more workers if/when they brought it back? You do remember? Did you believe it? You shouldn't.

16:17 CW Curtiss-Wright to utilize $50 million in repatriated foreign cash to expand 2018 share repurchase program (133.92 +2.03)

Board of Directors has authorized an additional $50 million for share repurchases in 2018, to begin immediately via a 10b5-1 program, by using cash that the Company has begun repatriating from its foreign subsidiaries.

Earlier this month, the Company repurchased more than $12 million in shares opportunistically through a supplemental share repurchase program and has ~$36 million remaining under the current share repurchase authorization. Since early 2014, the Company has repurchased more than 7 million shares for an aggregate purchase price of nearly $550 million