Cameron’s (NYSE: CAM) board of directors has approved an increase in the company's share repurchase authorization by an additional $500 million. Also, Cameron reported that it has repurchased 12.8 million shares so far in 2014, at a total cost of $780 million.
The company has also established its first commercial paper program, which will be used for general corporate purposes including share repurchases. The program is authorized to a maximum of $500 million.
Cameron provides flow equipment products, systems, and services to the oil, gas, and process industries.