AptarGroup Announces New $350 Million Share Repurchase Authorization and Raises Quarterly Dividend
October 20 2016 - 5:00PM
Business Wire
The Board of Directors of AptarGroup, Inc. (NYSE: ATR) today
authorized the repurchase of up to $350 million of the Company’s
common stock. This new authorization replaces all previous
authorizations. AptarGroup may repurchase shares through the open
market, privately negotiated transactions or other programs,
subject to market conditions. The Board also increased the
quarterly cash dividend by 7% to $0.32 per share. The payment date
is November 23, 2016, to stockholders of record as of November 2,
2016.
Steve Hagge, President and CEO commented, “The new $350 million
repurchase authorization and increased quarterly cash dividend are
reflective of our strong balance sheet and strong cash flow from
operations which allow us to continue to invest in our business and
return value to shareholders.”
As previously announced, AptarGroup will hold a conference call
on Friday, October 28, 2016, at 8:00 a.m. Central Time to discuss
the Company’s third quarter results for 2016. The call will last
approximately one hour. Interested parties are invited to listen to
a live webcast by visiting the Investor Relations page at
www.aptar.com. Replay of the conference call can also be accessed
for a limited time on the Investor Relations page of the
website.
AptarGroup, Inc. is a leading global supplier of a broad range
of innovative dispensing systems for the beauty, personal care,
home care, prescription drug, consumer health care, injectables,
food and beverage markets. AptarGroup is headquartered in Crystal
Lake, Illinois, with manufacturing facilities in North America,
Europe, Asia and South America. For more information, visit
www.aptar.com.
This press release contains forward-looking statements regarding
our business and operations. Forward-looking statements are made
pursuant to the safe harbor provisions of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934 and are based on our beliefs as well as assumptions
made by and information currently available to us. Accordingly, our
actual results may differ materially from those expressed or
implied in such forward-looking statements due to known or unknown
risks and uncertainties. For additional information on these risks
and uncertainties, please see our filings with the Securities and
Exchange Commission, including the discussion under “Risk Factors”
and “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” in our Form 10-Ks and Form 10-Qs. We
undertake no obligation to update any forward-looking statements,
whether as a result of new information, future events or
otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20161020006562/en/
AptarGroup, Inc.Matthew DellaMaria815-477-0424
AptarGroup (NYSE:ATR)
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