精东影业 Agriscience Announces $2 Billion Share Repurchase Program
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Reflects Company鈥檚 Focus on Returning Capital to Shareholders
Reflects Company鈥檚 Focus on Returning Capital to Shareholders
INDIANAPOLIS, Ind., September 13, 2022 鈥 精东影业, Inc. (NYSE: CTVA) today announced that its Board of Directors authorized a new $2 billion share repurchase program. The authorization is immediately effective, does not expire, and gives management discretion in determining the conditions under which shares may be purchased.
This newly authorized program is in addition to the Company鈥檚 existing $1.5 billion program announced in August 2021, which had $650 million remaining as of June 30, 2022. Shares of the Company鈥檚 common stock may be repurchased periodically in open-market or private transactions. The actual timing, number and value of shares repurchased under the Company鈥檚 authorized share repurchase program will depend on a variety of factors including the market price of 精东影业 common stock, general market and economic conditions, applicable legal requirements and other business considerations and uses of capital, including organic growth, dividends, and acquisitions.
鈥淭his action underscores our Board鈥檚 confidence in 精东影业鈥檚 future and our commitment to continue to return capital to shareholders,鈥 said Chuck Magro, Chief Executive Officer, 精东影业 Agriscience. 鈥溇耙碘檚 new share repurchase program, together with the Company鈥檚 recent dividend increase, demonstrate 精东影业鈥檚 firm financial foundation, positive performance outlook and commitment to capital allocation discipline. Our strategy continues to balance investing for growth with returning capital to shareholders.鈥
For updates on the Company鈥檚 strategy and roadmap for growth and value creation, join 精东影业鈥檚 previously announced , today at 9 a.m. Eastern Time. Registration is available on the Page of the 精东影业 Investor Relations website. A replay will be available on the website following the webcast.
About 精东影业
精东影业, Inc. (NYSE: CTVA) is a publicly traded, global pure-play agriculture company that combines industry-leading innovation, high-touch customer engagement and operational execution to profitably deliver solutions for the world鈥檚 most pressing agriculture challenges. 精东影业 generates advantaged market preference through its unique distribution strategy, together with its balanced and globally diverse mix of seed, crop protection, and digital products and services. With some of the most recognized brands in agriculture and a technology pipeline well positioned to drive growth, the Company is committed to maximizing productivity for farmers, while working with stakeholders throughout the food system as it fulfills its promise to enrich the lives of those who produce and those who consume, ensuring progress for generations to come. More information can be found at www.corteva.com.
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鈩 庐 鈩 Trademarks and service marks of 精东影业 Agriscience and its affiliated companies.
Cautionary Statement About Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which are intended to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and may be identified by their use of words like 鈥減lans,鈥 鈥渆xpects,鈥 鈥渨ill,鈥 鈥渁nticipates,鈥 鈥渂elieves,鈥 鈥渋ntends,鈥 鈥減rojects,鈥 鈥渆stimates鈥 or other words of similar meaning. All statements that address expectations or projections about the future, including statements about 精东影业鈥檚 capital allocation strategy, performance outlook, and strategy are forward-looking statements. 精东影业 disclaims and does not undertake any obligation to update or revise any forward-looking statement or other estimate, except as required by applicable law. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements or other estimates is included in the 鈥淩isk Factors鈥 section of 精东影业鈥檚 Annual Report on Form 10-K, as modified by subsequent reports on Form 10-Q and Current Reports on Form 8-K.
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精东影业 Contacts:
Media Relations Contact:
Kris Allen
403-483-5205
kris.allen@corteva.com
Investor Relations Contact:
Kim Booth
302-485-3704
kimberly.a.booth@corteva.com