Newell Brands to Resume Stock Repurchase Program
September 26 2017 - 7:30AM
Business Wire
Newell Brands Inc. (NYSE:NWL) today announced that it is
reinstating its Stock Repurchase Program that the company
voluntarily suspended in the fourth quarter of 2015, in association
with the Jarden transaction. Under the current authorization, which
is effective through the end of 2017, approximately $256 million of
the original $500 million is available for the repurchase of the
company’s common shares. Under the program, the company's common
shares may be purchased through a combination of a 10b5-1 automatic
trading plan and discretionary purchases on the open market or in
privately negotiated transactions. The amount and timing of any
purchases will depend on several factors, including trading price,
trading volume and general market conditions.
Newell Brands is ahead of its original schedule to deleverage
the company and is on track to achieve its leverage ratio target of
3.0 to 3.5 times in 2018.
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®, Rawlings®, Oster®, Sunbeam®, FoodSaver®, Mr.
Coffee®, Rubbermaid Commercial Products®, Graco®, Baby Jogger®,
NUK®, Calphalon®, Rubbermaid®, Contigo®, First Alert®, Waddington
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, statements about
goals and objectives for stock repurchases or future leverage
ratios, or the assumptions relating to any of the forward-looking
statements. These statements generally are accompanied by words
such as “intend,” “will,” or similar statements. Actual results
could 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, our
dependence on the strength of retail, commercial and industrial
sectors of the economy in light of the continuation of challenging
economic conditions; competition with other manufacturers and
distributors of consumer products; major retailers’ strong
bargaining power and consolidation of our customers; our ability to
improve productivity, reduce complexity and streamline operations;
our ability to develop innovative new products and to develop,
maintain and strengthen our end-user brands, including the ability
to realize anticipated benefits of increased advertising and
promotion spend; risks related to the substantial indebtedness that
we have incurred in connection with the Jarden acquisition; risks
related to a potential increase in interest rates; our ability to
complete planned acquisitions and divestitures; difficulties
integrating Jarden and other acquisitions; changes in the prices
and availability of raw materials and sourced products; the risks
inherent in our foreign operations, including currency
fluctuations, exchange controls and pricing restrictions; a failure
of one of our key information technology systems or related
controls; the potential inability to attract, retain and motivate
key employees; the imposition of tax liabilities greater than our
provisions for such matters; product liability, product recalls or
regulatory actions; changes to our credit ratings; and those
factors listed in our filings with the Securities and Exchange
Commission (including the information set forth under the caption
“Risk Factors” in the Company’s Annual Report on Form 10-K).
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 or future events or
developments.
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version on businesswire.com: http://www.businesswire.com/news/home/20170926005647/en/
Newell BrandsInvestors:Nancy O’Donnell, +1 (770) 418-7723SVP,
Investor and External
Relationsnancy.odonnell@newellco.comorMedia:Michael Sinatra, +1
(201) 610-6717Director, External Communicationsmichael.sinatra@newellco.com
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