Brown-Forman Board Authorizes New $250 Million Share Repurchase Program
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Posted By: How May I Help You NC on October 30, 2014 Brown-Forman Corporation (NYSE: BFB, BFA) announced that its Board of Directors has authorized the repurchase of up to $250 million of its outstanding Class A and Class B common shares commencing October 15, 2014, through October 14, 2015, subject to market and other conditions. The previous authorization of $250 million was completed in September of 2014. Under this new repurchase program, the company can repurchase shares from time to time for cash in open market purchases, block transactions, and privately negotiated transactions in accordance with applicable federal securities laws. This share repurchase program may be modified, suspended, or terminated by the company at any time without prior notice. Paul Varga, chief executive officer of Brown-Forman said, “We have been executing well on our long-term growth strategy and remain committed to delivering top-tier returns for our shareholders. Our balance sheet strength and substantial free cash flow allow the company to invest in organic growth while also returning capital to shareholders through ongoing share repurchase and dividend programs.” For more than 140 years, Brown-Forman Corporation has enriched the experience of life by responsibly building fine quality beverage alcohol brands, including Jack Daniel's Tennessee Whiskey, Jack Daniel’s Tennessee Honey, Southern Comfort, Finlandia, Jack Daniel's & Cola, Canadian Mist, Korbel, Gentleman Jack, el Jimador, Herradura, Sonoma-Cutrer, Chambord, New Mix, Tuaca, and Woodford Reserve. Brown-Forman's brands are supported by nearly 4,200 employees and sold in approximately 160 countries worldwide. For more information about the company, please visit http://www.brown-forman.com . Continued: http://www.brown-forman.com/news/releases/... If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
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How May I Help You NC
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