The rapid completion of the share repurchase program, coupled with the initiation of a new program, reflect the board's continued high level of confidence in the future of the company,
Quotes about repurchase (15 Quotes)
If a deal were not to occur, we believe that the company would consider a recap that may include a significant share repurchase.
We believe that this repurchase program is an excellent opportunity to build long-term value for our stockholders and demonstrates the confidence we have in our company, ... Our strong balance sheet and cash flow enable us to repurchase shares while investing in our strategic growth plans.
The increased authorization of our stock repurchase program reflects the board's continued high level of confidence in the growth prospects of the company, ... Current market conditions provide an excellent opportunity for us to buy back our shares.
Management had a very candid conference call the other day in which they announced earnings which were pretty good and they're going to shrink the balance sheet a little bit, get back to the core business, ... They announced a 30 million share repurchase program. The stock is trading at about nine times (earnings). I think it looks pretty good.
We could not be more pleased with our investments in the Lexus and Toyota franchises in Manchester and Houston. These franchise and facility actions will support additional revenue and profit growth while leveraging our operational scale. The stock repurchase and franchise dispositions demonstrate our commitment to improve stockholder value and are consistent with our previously announced strategy.
Additionally, a successful sale would free up cash for management to deploy either in its continued effort to clean up the company's balance sheet, or to repurchase shares, or to pursue MA opportunities in higher-growth segments.
We believe our share repurchase program, combined with our ongoing strategic investments in our business and maintaining a strong cash balance, is in the best interest of our shareholders, ... Our board will continue to evaluate if and when and what amount of dividend will be paid.
Kellogg Company is very committed to delivering shareholder value. Consequently, we are pleased to announce the repurchase of these shares from the W.K. Kellogg Foundation Trust. Our Company's operating principles focus the entire organization on generating cash flow and creating the financial flexibility necessary for us to complete significant transactions such as this.
When combined with previously completed repurchases of nearly 1 billion this share repurchase authorization, if completed, would represent the remaining balance under the company's strategic realignment plan.
(Friday's) increases, in both our dividend and our share repurchase program, signal our confidence in our ability to extend this track record of returning value to shareowners,
Additionally, this tax forces family businesses to invest in Uncle Sam rather than the economy. When families are forced to repurchase businesses because of the death tax, that means less money is being invested in new jobs and capital expansion.
Our ongoing stock repurchase program demonstrates the confidence we have in our company and shows our commitment to deliver long-term stockholder value. Our strong balance sheet and cash generation capability allow us to simultaneously invest in our current business and repurchase stock.
During the fourth quarter we completed a series of financing initiatives designed to improve our liquidity. We completed a NT1.8 billion (approximately 54 million) 5-year secured term loan with a group of Taiwanese lenders, and we replaced our 30 million secured revolving credit facility with a new 100 million senior secured revolver that is available through November 2009. In addition our chairman, James Kim, and members of his family, subscribed to an offering of 100 million of 6.25 convertible subordinated notes due 2013, the proceeds of which were used to repurchase 100 million of 5.75 convertible notes due June 1, 2006.
Delivering on our long-term commitment to enhance shareholder value, this is Devon's third consecutive annual dividend increase. We doubled the dividend in 2004, increased it by 50 percent in 2005 and are increasing it by 50 percent again this year. We also completed a 50-million share stock repurchase program in 2005 and have another 50-million share repurchase program now under way.