Tiffany Announces New Stock Repurchase Program: Board Authorizes $500 Million over Three Years
January 21 2016 - 4:01PM
Business Wire
Tiffany & Co. (the “Company”) (NYSE:TIF) announced today
that its Board of Directors has approved a new stock repurchase
program. Effective immediately, this new program authorizes the
repurchase of up to $500 million of the Company’s Common Stock
through open market transactions, block trades or privately
negotiated transactions. Purchases are discretionary and will be
made from time to time based on market conditions and the Company’s
liquidity needs. The program will expire on January 31, 2019.
The new repurchase program replaces the Company’s existing stock
repurchase program announced in March 2014, under which the Company
was authorized to repurchase up to $300 million of its Common
Stock. As of January 20, 2016, approximately $61 million remained
available for stock repurchases under this prior authorization.
Tiffany is the internationally-renowned jeweler founded in New
York in 1837. Through its subsidiaries, Tiffany & Co.
manufactures products and operates TIFFANY & CO. retail stores
worldwide, and also engages in direct selling through Internet,
catalog and business gift operations. For additional information,
please visit www.tiffany.com or call our shareholder information
line at 800-TIF-0110.
Forward-Looking Statements:
This press release contains certain "forward-looking" statements
concerning the Company's objectives and expectations with respect
to operations and financial results. Actual results might differ
materially from those in the forward-looking statements.
Information concerning risk factors that could cause actual results
to differ materially is set forth in the Company's filings with the
Securities and Exchange Commission, including the Company's most
recently filed Annual Report on Form 10-K and Quarterly Report on
Form 10-Q. The Company undertakes no obligation to update or revise
any forward-looking statements to reflect subsequent events or
circumstances.
TIF-G
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160121006437/en/
Tiffany & Co.Mark L. Aaron,
212-230-5301mark.aaron@tiffany.com
Tiffany (NYSE:TIF)
Historical Stock Chart
From Aug 2024 to Sep 2024
Tiffany (NYSE:TIF)
Historical Stock Chart
From Sep 2023 to Sep 2024