Resolute Announces Share Repurchase Program
Resolute Forest Products Inc. (RFP)
US:NYSE Investor Relations:
resolutefp.com/investors
Company Research
Source: PR Newswire
US $ MONTRÉAL, March 2, 2020 /PRNewswire/ - Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today announced that its board of directors authorized the repurchase of up to 15% of the company's common stock for aggregate consideration of up to $100 million. Repurchase transactions will be funded using the company's sources of liquidity."Having recently exhausted our previous repurchase program, it is appropriate to introduce a new program to be ready to act opportunistically to return capital to shareholders when conditions are right," said Yves Laflamme, president and chief executive officer. "We believe that proper capital allocation is a top priority and that it must be done in a disciplined manner. Accordingly, we intend to strike a balance between value-creating opportunities such as high-return projects with opportunities to return excess capital to shareholders." Under the new share repurchase program, the company is authorized to repurchase from time to time shares of its
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