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Newell Brands Announces $2.5 Billion Expansion of Share Repurchase AuthorizationNewell Brands Inc. (NYSE:NWL) announced today that its Board of Directors has approved an expansion to the company's stock repurchase authorization. Under the expansion, the company is authorized to expend $2.5 billion for repurchase of its outstanding shares through December 31, 2019. This authorization is incremental to the approximately $1.1 billion remaining under its previously announced authorization, which has been amended by the Board, so it now also expires on December 31, 2019. The total share repurchase authorization is now approximately $3.6 billion. Under the program, the company's common shares may be purchased by Newell Brands through a 10b5-1 automatic trading plan, discretionary purchases on the open market, accelerated share repurchase arrangements, in privately negotiated transactions or any combinations thereof. The amount and timing of any purchases will depend on factors including trading price, trading volume and general market conditions. The company continues to anticipate after-tax proceeds of approximately $10 billion from asset divestitures planned as part of the company's Accelerated (News - Alert) Transformation Plan. Proceeds will be applied to deleveraging and share repurchase. About Newell Brands Newell Brands (NYSE: NWL) is a leading global consumer goods company with a strong portfolio of well-known brands, including Paper Mate®, Sharpie®, Dymo®, EXPO®, Parker®, Elmer's®, Coleman®, Jostens®, Marmot®, Oster®, Sunbeam®, FoodSaver®, Mr. Coffee®, Rubbermaid Commercial Products®, Graco®, Baby Jogger®, NUK®, Calphalon®, Rubbermaid®, Contigo®, First Alert®, and Yankee Candle®. For hundreds of millions of consumers, Newell Brands makes life better every day, where they live, learn, work and play. This press release and additional information about Newell Brands are available on the company's website, www.newellbrands.com. Forward-Looking Statements Statements in this press release that are not historical in nature constitute forward-looking statements. These forward-looking statements may include, but are not limited to, references to estimated divestiture proceeds, stock repurchase activity, completion of divestitures and the timing for closing of transactions. These statements generally can be identified by the use of words such as "intend," "anticipate," "believe," "estimate," "project," "target," "plan," "expect," "will," "should," "would" or similar statements. We caution that forward-looking statements are not guarantees because there are inherent difficulties in predicting future results. In addition, there are no assurances that we will complete any or all of the potential transactions or other initiatives referenced above. Actual results may differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include, but are not limited to:
Changes in such assumptions or factors could produce significantly different results. The information contained in this news release is as of the date indicated. The company assumes no obligation to update any forward-looking statements contained in this news release as a result of new information, future events or developments.
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