Berry Global Group, Inc. Announces New $1 Billion Share Repurchase Program

Berry Global Group, Inc. (NYSE:BERY), a leading supplier of sustainable packaging solutions for consumer goods and industrial products, announced today that its Board of Directors has authorized a new share repurchase program under which the Company may repurchase up to $1 billion of its outstanding shares of common stock. The Company currently expects to repurchase at least $350 million of shares outstanding in fiscal year 2022, including the $50 million shares repurchased in the first fiscal quarter, and to fully utilize the program over the next two to three fiscal years.

This new, expanded authorization replaces the Company’s existing share repurchase program, and reflects the Company’s strong and dependable cash flow and its desire to opportunistically return capital to shareholders. The specific timing, price and size of purchases will depend on prevailing stock prices, general economic and market conditions, applicable legal requirements and other considerations.

The new share repurchase authorization allows for the repurchase of shares, from time to time, through open market purchases, privately negotiated transactions, Rule 10b5-1 plans, and any other purchase techniques deemed appropriate in accordance with applicable securities laws. The repurchase program does not obligate the Company to acquire any particular amount of common stock, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion.
https://ir.berryglobal.com/news-releases/news-release-details/berry-global-group-inc-announces-new-1-billion-share-repurchase

Related Posts

American Forest & Paper Association Releases November 2020 Containerboard Monthly Report

The American Forest & Paper Association (AF&PA) released its November 2020 Containerboard Monthly report. Total Containerboard production in November increased two percent compared to November 2019. It was up four percent when compared to the same 11 months of 2019. November 2020 production of containerboard for export decreased six percent compared to the same month last year; it was up 13 percent year-to-date. The containerboard operating rate was 93.3 percent, essentially flat (-0.4 pts.) from November 2019 and up 2.5 points year-to-date. Mill inventories of containerboard at the end of November increased 39,000 short tons from the previous month and were down 2,000 short tons compared to November 2019.

Rapak® North America Achieves ‘Excellent’ Score on SQF Certification Audit for the 4th Year in a Row

Rapak North America, a business unit of DS Smith Plastics and market leader in Bag-in-Box packaging and filling systems, announced that two of their facilities located in the United States of America, achieved excellent scores of 98 out of 100 points on the new SQF, Edition 8.0 certification audits last month. Rapak has continually scored ‘E’ for Excellent at all locations since 2015. The SQF, Edition 8.0 Food Safety Code for Manufacture of Food Packaging certification is a company-wide initiative to supply safe food packaging products and a requirement of Rapak’s top key customers within the food industry. Receiving an Excellent score on these audits validates the commitment and dedication of Rapak employees to supplying safe products to their customers. Click Read More below for additional information.

Eco-Products Earns GreenScreen Certification for Plant-Based Packaging with No PFAS Added

Eco-Products® announced that it has earned the coveted GreenScreen Certified™ Silver designation for its groundbreaking line of compostable plates and containers made from sugarcane. Called VanguardTM, the award-winning line uses a proprietary chemistry to achieve grease resistance without the use of PFAS, a class of materials sometimes referred to as “forever chemicals.” In addition, GreenScreen Certified products do not contain other chemicals of high concern or known regrettable substitutes.
Back To Top
×Close search
Search