VNOM - Viper Energy unveils $100M stock buyback program

Viper Energy Partners (VNOM) +5.2% after-hours following news that its board authorized the initiation of a stock repurchase program of up to $100M of its common units."Because of our confidence in the expected free cash flow to be generated in our forward outlook, which is currently being heavily discounted by the market, the board has decided to use a portion of free cash to repurchase common units, beyond our current distribution," Viper says.The buyback plan represents 7.5% of Viper's current market value; the company's dividend yield is 4.8%.VNOM units have shed 70% over the past year:

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Viper Energy unveils $100M stock buyback program