IFF $300 Million Share Buyback Program Almost Complete
The IFF Board of Directors approved a regular quarterly cash dividend of 21 cents per share, an increase of 2.5 cents or 14% from the level paid earlier. The cash dividend is payable January 8, 2007 to shareholders of record on December 21, 2006.
International Flavors & Fragrances Inc. has announced that a new $300 million share repurchase program which is expected to be completed over the next 18 – 24 months; an existing $200 million authorization, in effect since May 2005, is nearly complete. At the current market price, the new program would enable the repurchase of approximately 7.5 million shares or 8% of shares currently outstanding. The purchases will be made from time to time on the open market or through private transactions as market and business conditions warrant. has announced an increased quarterly dividend. Meanwhile the IFF Board of Directors approved a regular quarterly cash dividend of 21 cents per share, an increase of 2.5 cents or 14% from the level paid earlier. The cash dividend is payable January 8, 2007 to shareholders of record on December 21, 2006.
Robert M. Amen, IFF’s Chairman and Chief Executive Officer stated, “I am pleased with the progress our businesses are delivering. We’re confident in our growth prospects and our ability to build shareholder value. The Company’s operating results and strong cash flows enable us to invest in our people and capabilities to meet the needs of our customer, while at the same time returning funds to our shareholders. We are committed to serving the needs of our shareholders, customers and colleagues.”
