Renewable-Energy-Industry.com

Business World of Renewable Energy

IWR Reuters News Center RTL 103 0347 1280 256

Green Plains announces share repurchase program and doubles cash dividend

Omaha, USA - Green Plains Inc. announced that its Board of Directors has approved a share repurchase program of up to $100 million of the Company's shares of common stock effective immediately.

Under the share repurchase program, Green Plains may repurchase shares from time to time in open market transactions, privately negotiated transactions, accelerated share buyback programs, tender offers or by other means. The timing and amount of repurchase transactions will be determined by the Company's management based on its evaluation of market conditions, share price, legal requirements and other factors. The program may be suspended, modified or discontinued at any time without prior notice.

The Board of Directors also declared a quarterly cash dividend of $0.08 per share on the Company's common stock. The cash dividend announced represents a 100% increase from the previous quarterly cash dividend. The dividend will be payable on September 18, 2014 to shareholders of record as of the close of business August 28, 2014.

"The strong financial performance we have achieved allows us to enhance our capital allocation strategy with a share repurchase program and an increased dividend for our shareholders," said Todd Becker, President and Chief Executive Officer. "We will also remain focused on growing long-term shareholder value through acquisitions and organic growth opportunities."



Source: IWR Online, 18 Aug 2014

 


Companies