BENTON HARBOR, Mich.,
April 18, 2016 /PRNewswire/ -- The board of directors of
Whirlpool Corporation has authorized a $1
billion share repurchase program.
The company's board of directors also approved an 11 percent
increase in the quarterly dividend on the company's common stock to
one dollar per share from
90 cents per share. The dividend is
payable June 15, 2016, to stockholders of record at the close
of business on May 20, 2016.
"We continue to execute our balanced capital allocation strategy
to enhance returns to shareholders," said Jeff M. Fettig, chairman and chief executive
officer of Whirlpool Corporation. "Our new share repurchase program
and increased dividend demonstrate our confidence that our
long-term plans will create value through our industry-leading
brands and innovative new products."
About Whirlpool Corporation
Whirlpool Corporation (NYSE: WHR) is the number one major
appliance manufacturer in the world, with approximately $21
billion in annual sales, 97,000 employees and 70
manufacturing and technology research centers throughout the world
in 2015. The company markets Whirlpool, KitchenAid, Maytag,
Consul, Brastemp, Amana, Bauknecht, Jenn-Air, Indesit and
other major brand names in nearly every country around the world.
Additional information about the company can be found
at whirlpoolcorp.com, or find us on Twitter at
@WhirlpoolCorp.
Whirlpool Corporation Additional Information
This document contains forward-looking statements regarding
long-term value creation. Actual events or results may differ
materially from those statements as a result a many factors,
including the company's ability to execute on its long-term plans.
For information about the factors that could cause such
differences, please refer to our Annual Report on Form 10-K for the
year ended December 31, 2015, including the information set
forth under the caption "Risk Factors."
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SOURCE Whirlpool Corporation