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DUPONT ANNOUNCES $5 BILLION SHARE REPURCHASE PROGRAM
Jan. 29, 2014
Source: DuPont news release
DuPont today announced that its Board of Directors authorized a new $5 billion share repurchase program of the company's common stock. This program replaces the existing repurchase program.
The company expects to repurchase $2 billion in 2014 with the remainder to be repurchased over time with no required completion date.
"This $5 billion share repurchase program reflects our commitment to shareholders and our confidence in building a higher growth, higher value company," said DuPont Chair and CEO Ellen Kullman.
"Given our cash position, strong balance sheet and outlook, this program is a measured way to maintain ample financial capability, reinvest in our science-based businesses for growth, and deliver attractive cash returns to our shareholders."
Since 2008, DuPont's dividend and share repurchases have returned more cash to shareholders as a percentage of market capital than the average of its peers and the S&P 500.
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