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