Graphic Packaging Holding Company announced a new $250 million share repurchase authorization. The new $250 million authorization allows for the repurchase of shares from time to time through open market purchases, privately negotiated transactions and Rule 10b5-1 plans in accordance with applicable securities laws. The timing of purchases will depend on market conditions.
"The new share repurchase authorization demonstrates the confidence we have in our free cash flow profile," said President and CEO Mike Doss. "We continue to be committed to a balanced capital allocation strategy, which includes reinvesting into our business to drive strong cash returns on cash invested, strategic acquisitions at compelling post-synergy multiples, and returning cash to shareholders through dividends and share repurchases."
Mr. Doss continued, "We are committed to executing our strategy and growing our free cash flow, which we expect over time will allow us to continue increasing our return of cash to shareholders through dividends and share repurchases."
Graphic Packaging Holding Company is a leading provider of paper-based packaging solutions for a wide variety of products to food, beverage and other consumer product companies.
