|By PR Newswire||
|January 28, 2014 06:01 AM EST||
WILMINGTON, Del., Jan. 28, 2014 /PRNewswire/ -- 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.
DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit http://www.dupont.com.
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