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Warrior Met Coal board approves up to $70M common stock buyback

Warrior Met Coal Inc.'s board approved the repurchase of up to $70 million of outstanding common stock under a second stock repurchase program, according to a March 26 release. The previous repurchase program was worth $40 million.

Subject to board approval, Warrior Met Coal also intends to pay a special dividend of $229.4 million to noteholders in the near future following the close of a restricted payment offer for its 8.00% senior secured notes due 2024.