IFF Announces $300 Million Share Repurchase Authorization
November 01 2017 - 4:15PM
Business Wire
Regulatory News:
International Flavors & Fragrances Inc. (NYSE: IFF)
(Euronext Paris: IFF), a leading innovator of sensory experiences
that move the world, announced that its Board of Directors has
approved an extension of its existing share repurchase
authorization through 2022, with a total value of $300 million,
including approximately $50 million remaining on its prior
authorization. The purchases will be made from time to time on the
open market or through private transactions as market and business
conditions warrant. Repurchased shares will be placed into treasury
stock.
“The share repurchase authorization is consistent with our
established return of capital strategy and reinforces our belief
that IFF is well-positioned for the future,” said IFF Chairman and
CEO Andreas Fibig. “Our strong financial position and cash
generation enables us to return cash to our shareholders as we
continue to strategically invest – both organically and through
acquisitions – to create long-term value for our shareholders.”
Meet IFF
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext
Paris: IFF) is a leading innovator of sensorial experiences that
move the world. At the heart of our company, we are fueled by a
sense of discovery, constantly asking “what if?”. That passion for
exploration drives us to co-create unique products that consumers
taste, smell, or feel in fine fragrances and beauty, detergents and
household goods, as well as beloved foods and beverages. Our 7,400
team members globally take advantage of leading consumer insights,
research and development, creative expertise, and customer intimacy
to develop differentiated offerings for consumer products. Learn
more at www.iff.com, Twitter, Facebook, Instagram, and
LinkedIn.
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version on businesswire.com: http://www.businesswire.com/news/home/20171101006780/en/
International Flavors & Fragrances Inc.Michael DeVeau,
212-708-7164VP, Corporate Strategy, Investor Relations &
CommunicationsMichael.DeVeau@iff.com
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