The Rising Influence of Rising Affluence

[DewDiligence]

CLB has a share-repurchase authorization for up to 10% of share-capital outstanding, which runs until 11/18/18 (18 months from the most recent annual meeting). This is a standing authorization—i.e. shareholders renew the authorization on a rolling basis at each annual meeting.

During 3Q17, CLB repurchased $800K of stock, down from $6.1M in 2Q17 (https://www.sec.gov/Archives/edgar/data/1000229/000100022917000090/clb-2017q3_exhibit99x1xpre.htm, scan to bottom).

CLB has historically been a heavy buyer of its own shares. The buybacks were briefly suspended during the recent oil-market downturn.