Olin (OLN) will host an investor day in New York City, beginning at 9:00am. The event is expected to conclude at approximately 12:00pm. “We are excited to provide the investment community with an update on our core businesses and go-forward strategy to optimize and grow the core through self-help initiatives and low-capital growth projects. We continue to safely and reliably deliver essential materials to customers and deliver higher returns to shareholders through our leading market positions, value-first commercial approach, and disciplined capital allocation framework,” said Ken Lane, Olin’s President and CEO. “Additionally, we are pleased to announce that our Board of Directors has authorized a new share repurchase program (“2024 Share Repurchase Program”), increasing our authorization to $2.0 billion and emphasizing their continued confidence in Olin’s earnings potential and cash flow generation.” Under the new $1.3B share repurchase program approved by Olin’s board of directors, shares of the company’s common stock may be repurchased periodically, including in the open market, or privately negotiated transactions. The actual timing, manner, number, and value of shares repurchased under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of Olin’s common stock, general market and economic conditions, applicable requirements, and other business considerations. The 2024 share repurchase program has no time limit and does not obligate the company to acquire any particular amount of shares of the company’s common stock.
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Read More on OLN:
- Olin Secures Leadership Transition with Retention Agreement
- Olin Announces Leadership Transition with New CLO Appointment
- Olin’s New Receivables Purchase Agreement and Financial Shift
- Olin price target lowered to $51 from $57 at Piper Sandler
- Olin price target lowered to $48 from $52 at RBC Capital
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
