IFF Announces $300 Million Share Repurchase Authorization
International Flavors & Fragrances Inc. (NYSE: IFF) (Euronext Paris: IFF), a leading innovator of sensory experiences that move the world, announced that its Board of Directors has approved an extension of its existing share repurchase authorization through 2022, with a total value of $300 million, including approximately $50 million remaining on its prior authorization. The purchases will be made from time to time on the open market or through private transactions as market and business conditions warrant. Repurchased shares will be placed into treasury stock.
“The share repurchase authorization is consistent with our established return of capital strategy and reinforces our belief that IFF is well-positioned for the future,” said IFF Chairman and CEO Andreas Fibig. “Our strong financial position and cash generation enables us to return cash to our shareholders as we continue to strategically invest – both organically and through acquisitions – to create long-term value for our shareholders.”
International Flavors & Fragrances Inc. (NYSE:IFF) (Euronext Paris: IFF) is a leading innovator of sensorial experiences that move the world. At the heart of our company, we are fueled by a sense of discovery, constantly asking “what if?”. That passion for exploration drives us to co-create unique products that consumers taste, smell, or feel in fine fragrances and beauty, detergents and household goods, as well as beloved foods and beverages. Our 7,400 team members globally take advantage of leading consumer insights, research and development, creative expertise, and customer intimacy to develop differentiated offerings for consumer products. Learn more at www.iff.com, Twitter, Facebook, Instagram, and LinkedIn.
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International Flavors & Fragrances Inc.
Michael DeVeau, 212-708-7164
VP, Corporate Strategy, Investor Relations & Communications
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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