Airgas Announces $500 Million Stock Repurchase Program
May 28 2015 - 8:30AM
Business Wire
Airgas, Inc. (NYSE:ARG) today announced a program to repurchase
up to $500 million of its outstanding shares of common stock. As of
May 27, 2015, Airgas had approximately 75.5 million common shares
outstanding.
“Airgas is well-positioned for sustained long-term growth, and
this share repurchase program reflects our confidence in the
future,” said Airgas Executive Chairman Peter McCausland. “Our
balance sheet is solid, and we continue to generate strong cash
flow, which affords us the opportunity to not only consistently
grow our dividends but also repurchase shares and realize
attractive earnings per share accretion.”
Airgas may repurchase shares from time to time for cash in open
market transactions or in privately-negotiated transactions in
accordance with applicable federal securities laws. The Company
will determine the timing and the amount of any repurchases based
on its evaluation of market conditions, share price, and other
factors. The stock repurchase program has no pre-established
closing date and may be suspended or discontinued at any time.
About Airgas, Inc.
Airgas, Inc. (NYSE:ARG), through its subsidiaries, is one of the
nation's leading suppliers of industrial, medical and specialty
gases, and hardgoods, such as welding equipment and related
products. Airgas is a leading U.S. producer of atmospheric gases
with 16 air separation plants, a leading producer of carbon
dioxide, dry ice, and nitrous oxide, one of the largest U.S.
suppliers of safety products, and a leading U.S. supplier of
refrigerants, ammonia products, and process chemicals.
Approximately 17,000 associates work in more than 1,100 locations,
including branches, retail stores, gas fill plants, specialty gas
labs, production facilities and distribution centers. Airgas also
markets its products and services through e-Business, catalog and
telesales channels. Its national scale and strong local presence
offer a competitive edge to its diversified customer base. For more
information, please visit www.airgas.com.
This press release contains statements that are forward looking,
as that term is defined by the Private Securities Litigation Reform
Act of 1995 or by the SEC in its rules, regulations and releases.
These statements include, but are not limited to: our positioning
for sustained long-term growth and our confidence in the future;
the realization of attractive earnings accretion from share
repurchases; our cash flow generation and ability to fund our
growth strategies; the timing, form, and amount of repurchases; and
the suspension or discontinuance of the share repurchase program.
All forward-looking statements are based on current expectations
regarding important risk factors and should not be regarded as a
representation by us or any other person that the results expressed
therein will be achieved. Airgas assumes no obligation to revise or
update any forward-looking statements for any reason, except as
required by law. Important factors that could cause actual results
to differ materially from those contained in any forward-looking
statement include the factors identified in the Company's press
release announcing its quarterly earnings, as well as other factors
described in the Company's reports, including its March 31, 2015
Form 10-K, subsequent Forms 10-Q, and other forms filed by the
Company with the SEC.
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version on businesswire.com: http://www.businesswire.com/news/home/20150528005445/en/
Airgas, Inc.Investor:Joseph
Marczely, 610-263-8277joseph.marczely@airgas.comorMedia:Sarah Boxler, 610-263-8260sarah.boxler@airgas.com
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