CRYSTAL LAKE, Ill.--(BUSINESS WIRE)--
The Board of Directors of AptarGroup, Inc. (NYSE: ATR) today authorized the repurchase of up to $350 million of the Company’s common stock. This new authorization replaces all previous authorizations. AptarGroup may repurchase shares through the open market, privately negotiated transactions or other programs, subject to market conditions. The Board also increased the quarterly cash dividend by 7% to $0.32 per share. The payment date is November 23, 2016, to stockholders of record as of November 2, 2016.
Steve Hagge, President and CEO commented, “The new $350 million repurchase authorization and increased quarterly cash dividend are reflective of our strong balance sheet and strong cash flow from operations which allow us to continue to invest in our business and return value to shareholders.”
As previously announced, AptarGroup will hold a conference call on Friday, October 28, 2016, at 8:00 a.m. Central Time to discuss the Company’s third quarter results for 2016. The call will last approximately one hour. Interested parties are invited to listen to a live webcast by visiting the Investor Relations page at www.aptar.com. Replay of the conference call can also be accessed for a limited time on the Investor Relations page of the website.
AptarGroup, Inc. is a leading global supplier of a broad range of innovative dispensing systems for the beauty, personal care, home care, prescription drug, consumer health care, injectables, food and beverage markets. AptarGroup is headquartered in Crystal Lake, Illinois, with manufacturing facilities in North America, Europe, Asia and South America. For more information, visit www.aptar.com.
This press release contains forward-looking statements regarding our business and operations. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs as well as assumptions made by and information currently available to us. Accordingly, our actual results may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties. For additional information on these risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-Ks and Form 10-Qs. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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