FMC Authorizes $150 Million Stock Repurchase Program
Shares may be purchased through open market or privately negotiated transactions at the discretion of management based on its evaluation of market conditions and other factors.
27/02/06 FMC Corporation has announced that its Board of Directors approved the initiation of a quarterly cash dividend and declared a dividend of $0.18 per share, payable on April 20, 2006, to shareholders of record as of March 31, 2006.
Additionally, the Board authorized the repurchase of up to $150 million of the Company's common stock. Shares may be purchased through open market or privately negotiated transactions at the discretion of management based on its evaluation of market conditions and other factors.
Although the repurchase program does not include a specific timetable or price targets and may be suspended or terminated at any time, the Company expects that the program will be accomplished over the next two years.William G. Walter, Chairman of the Board, President and Chief Executive Officer said, "The initiation of a regular quarterly cash dividend and the announcement of a stock buyback program signal our confidence in the soundness of FMC's businesses and our ability to generate consistent earnings growth. We believe that these factors coupled with our disciplined financial management will enable us to continue to invest in and grow our existing businesses, pursue external growth opportunities, and reward shareholders with a regular cash dividend as well as additional liquidity.
"FMC Corporation is a diversified chemical company serving agricultural, industrial and consumer markets globally for more than a century with innovative solutions, applications and quality products. The company employs approximately 5,000 people throughout the world. The company operates its businesses in three segments: Agricultural Products, Specialty Chemicals and Industrial Chemicals.
