Board authorizes $250 million of additional share repurchases.
Hexcel completes $100 million of share repurchases during the third
quarter.
Regulatory News:
Hexcel Corporation (NYSE:HXL)(Paris:HXL), today announced that the
Company’s Board of Directors has declared a regular quarterly cash
dividend of $0.10 per share on the common stock of Hexcel, payable on
November 16, 2015 to shareholders of record as of November 2, 2015.
During the third quarter, the Company repurchased more than 2 million
shares for $100 million and completed the remaining share repurchases
authorized in June 2014. Today, the Company’s Board of Directors
authorized the repurchase of an additional $250 million of the Company’s
stock. Under the program, the Company may purchase its common stock from
time to time in the open market or in privately negotiated transactions.
The repurchases will be funded from cash from operating activities and,
if needed, the existing credit facilities. The amount and timing of the
purchases will depend on a number of factors including the price and
availability of shares of common stock, trading volume and general
market conditions.
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Hexcel Corporation is a leading advanced composites company. It
develops, manufactures and markets lightweight, high-performance
structural materials, including carbon fibers, reinforcements, prepregs,
honeycomb, matrix systems, adhesives and composite structures, used in
commercial aerospace, space and defense and industrial applications such
as wind turbine blades.
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