Company: WKC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001628280-25-007620
Chunk: 105

Company: WORLD KINECT CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 15
Chunk 105
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.68, $0.56, and 0.52 per common share, representing $39.8 million, $33.8 million, and $32.2 million in total dividends, respectively. Cash dividends declared, but not yet paid, were $9.7 million, $8.4 million and $8.6 million as of December 31, 2024, 2023 and 2022, respectively.The payments associated with the above referenced cash dividends were in compliance with restrictions regarding the maximum amount of cash dividends allowed to be paid under our Credit Agreement.

Stock Repurchases During the second quarter of 2023, we used a portion of the proceeds from the issuance of Convertible Notes to repurchase approximately 2.2 million shares of common stock from purchasers of the Convertible Notes for an aggregate purchase price of approximately $50.0 million. See Note 8. Debt, Interest Income, Expense, and Other Finance Costs for additional information regarding the issuance of Convertible Notes.Repurchase ProgramsIn March 2020, the Board approved a stock repurchase program authorizing $200.0 million in common stock repurchases. In September 2024, the Board approved an additional stock repurchase program authorizing $200.0 million in common stock repurchases. These repurchase authorizations do not require a minimum number of shares 

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of common stock to be purchased, have no expiration date, and repurchases may be initiated, suspended or discontinued at any time. As of December 31, 2024, approximately $237.0 million remains available under our repurchase authorizations. The timing and amount of our repurchases will depend on market conditions, share price, securities law and other legal requirements and factors.During the years ended December 31, 2024, 2023, and 2022, we repurchased 3.6 million, 0.5 million, and 2.0 million shares of common stock under our repurchase authorizations for an aggregate value of $100.0 million, $10.1 million, and $48.7 million, respectively.

Share-Based Payment PlansPlan Summary and DescriptionIn May 2021, our shareholders approved the 2021 Omnibus Plan (the "2021 Plan"), which is administered by the Compensation Committee. The purpose of the 2021 Plan is to (i) attract and retain persons eligible to participate in the 202