Newell Brands Announces $2.5 Billion Expansion of Share Repurchase Authorization
Newell Brands Inc. (NYSE:NWL) announced today that its Board of Directors has approved an expansion to the company's stock
repurchase authorization. Under the expansion, the company is authorized to expend $2.5 billion for repurchase of its outstanding
shares through December 31, 2019. This authorization is incremental to the approximately $1.1 billion remaining under its
previously announced authorization, which has been amended by the Board, so it now also expires on December 31, 2019. The total
share repurchase authorization is now approximately $3.6 billion. Under the program, the company's common shares may be purchased
by Newell Brands through a 10b5-1 automatic trading plan, discretionary purchases on the open market, accelerated share repurchase
arrangements, in privately negotiated transactions or any combinations thereof. The amount and timing of any purchases will depend
on factors including trading price, trading volume and general market conditions.
The company continues to anticipate after-tax proceeds of approximately $10 billion from asset divestitures planned as part of
the company’s Accelerated Transformation Plan. Proceeds will be applied to deleveraging and share repurchase.
About Newell Brands
Newell Brands (NYSE: NWL) is a leading global consumer goods company with a strong portfolio of well-known brands, including
Paper Mate®, Sharpie®, Dymo®, EXPO®, Parker®, Elmer’s®, Coleman®, Jostens®, Marmot®, Oster®, Sunbeam®, FoodSaver®, Mr. Coffee®,
Rubbermaid Commercial Products®, Graco®, Baby Jogger®, NUK®, Calphalon®, Rubbermaid®, Contigo®, First Alert®, and Yankee Candle®.
For hundreds of millions of consumers, Newell Brands makes life better every day, where they live, learn, work and play.
This press release and additional information about Newell Brands are available on the company’s website, www.newellbrands.com.
Forward-Looking Statements
Statements in this press release that are not historical in nature constitute forward-looking statements. These forward-looking
statements may include, but are not limited to, references to estimated divestiture proceeds, stock repurchase activity, completion
of divestitures and the timing for closing of transactions. These statements generally can be identified by the use of words such
as “intend,” “anticipate,” “believe,” “estimate,” “project,” “target,” “plan,” “expect,” “will,” “should,” “would” or similar
statements. We caution that forward-looking statements are not guarantees because there are inherent difficulties in predicting
future results. In addition, there are no assurances that we will complete any or all of the potential transactions or other
initiatives referenced above. Actual results may differ materially from those expressed or implied in the forward-looking
statements. Important factors that could cause actual results to differ materially from those suggested by the forward-looking
statements include, but are not limited to:
- our dependence on the strength of retail, commercial and industrial sectors of the economy in various
parts of the world;
- competition with other manufacturers and distributors of consumer products;
- major retailers’ strong bargaining power and consolidation of our customers;
- our ability to improve productivity, reduce complexity and streamline operations;
- our ability to develop innovative new products, to develop, maintain and strengthen end-user brands
and to realize the benefits of increased advertising and promotion spend;
- risks related to our substantial indebtedness, a potential increase in interest rates or changes in
our credit ratings;
- our ability to effectively accelerate our transformation plan and explore and execute our strategic
options;
- our ability to complete planned acquisitions and divestitures, to integrate Jarden and other
acquisitions and unexpected costs or expenses associated with acquisitions or dispositions;
- changes in the prices of raw materials and sourced products and our ability to obtain raw materials
and sourced products in a timely manner;
- the risks inherent to our foreign operations, including currency fluctuations, exchange controls and
pricing restrictions;
- a failure of one of our key information technology systems or related controls;
- future events that could adversely affect the value of our assets and require impairment
charges;
- the impact of United States and foreign regulations on our operations, including environmental
remediation costs;
- the potential inability to attract, retain and motivate key employees;
- the resolution of tax contingencies resulting in additional tax liabilities;
- product liability, product recalls or related regulatory actions;
- our ability to protect intellectual property rights;
- significant increases in the funding obligations related to our pension plans; and
- other factors listed from time to time in our filings with the Securities and Exchange Commission,
including, but not limited to our Annual Report on Form 10-K.
Changes in such assumptions or factors could produce significantly different results. The information contained in this news
release is as of the date indicated. The company assumes no obligation to update any forward-looking statements contained in this
news release as a result of new information, future events or developments.
Investors:
Nancy O’Donnell
SVP, Investor Relations and Communications
+1 (201) 610-6857
nancy.odonnell@newellco.com
or
Media:
Michael Sinatra
Director, External Communications
+1 (201) 610-6717
michael.sinatra@newellco.com
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