DuPont Board Approves US$ 2 Billion Share Buyback Program

IndraStra Global

DuPont Board Approves US$ 2 Billion Share Buyback Program

DuPont Board Approves US$ 2 Billion Share Buyback Program

On June 3, 2019, American conglomerate DuPont (E. I. du Pont de Nemours and Company) announced that its board of directors approved a US$ 2 billion share buyback program which expires on June 1, 2021. Under the stock buyback program, shares of the company's common stock may be repurchased periodically in the open market or private transactions. The actual timing, number and value of shares repurchased under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of DuPont's common stock, general market and economic conditions, applicable legal requirements and other business considerations. 

"I am pleased to announce that we have acted immediately upon our stand up as an independent company to establish a share buyback program," said Jeanmarie Desmond, Chief Financial Officer of DuPont. "This action by our board demonstrates our commitment to creating value for our shareholders through a balanced financial policy."

The company also filed this morning DuPont pro forma financial information reflecting the separation of both Dow and Corteva. Additional segment-level pro forma financial information is anticipated later this week. 

DuPont will host a webcast on June 10, 2019, at 8:00 a.m. ET to provide an overview of the pro forma financial information as well as a bridge from our existing Specialty Products divisional guidance for 2019 to total DuPont guidance for 2019.  Additionally, Desmond will review segment level pro forma information which will include adjustments made to reflect stand-alone company reporting as well as the creation of the previously announced non-core segment. 

Investors and analysts are invited to join the webcast via the link on the DuPont Investor Relations page.