The Andersons, Inc. Announces $100 Million Share Repurchase Program

Rhea-AI Summary

The Andersons, Inc. (Nasdaq: ANDE) has announced a new share repurchase program, authorizing up to $100 million for the buyback of its common stock. This initiative, approved by the Board of Directors, underscores the company's commitment to maximizing shareholder value while maintaining a flexible capital allocation strategy. The program will be conducted through open market transactions over a period of three years, depending on market conditions and stock price.

Positive

• Authorization of a $100 million share repurchase program enhances shareholder value.
• The repurchase initiative indicates confidence in the company's financial health and stock valuation.
• Strategic focus on capital allocation supports growth in core grain and fertilizer businesses.

Negative

• None.

MAUMEE, Ohio, Aug. 20, 2021 /PRNewswire/ -- The Andersons, Inc. (Nasdaq: ANDE) announces its Board of Directors have authorized a share repurchase program of up to $100 million of outstanding company common stock.

"A continued focus on our capital allocation strategy allows us to take advantage of a flexible balance sheet at the right time for the right opportunity and focus on growing our core grain and fertilizer businesses. This share repurchase program provides us with the option to return cash to our shareholders, at an appropriate time and share valuation," said President and CEO Pat Bowe.

Shares will be repurchased from time to time in open market transactions. When, and if, shares are purchased will depend on stock price, market conditions, and other factors. Authorization of this program does not obligate share repurchase by The Andersons. The authorization for this plan will be in effect for a period of three years.

About The Andersons, Inc.
Founded in 1947 in Maumee, Ohio, The Andersons, Inc. is a diversified company rooted in agriculture that conducts business in the commodity trading, ethanol, and plant nutrient sectors. Guided by its Statement of Principles, The Andersons strives to provide extraordinary service to its customers, help its employees improve, support its communities, and increase the value of the company. For more information, please visit www.andersonsinc.com.

 

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SOURCE The Andersons, Inc.

FAQ

What is the share repurchase program announced by The Andersons, Inc.?

The Andersons, Inc. has authorized a share repurchase program allowing for the buyback of up to $100 million of its common stock.

How long will the share repurchase program last?

The share repurchase program will be in effect for a period of three years.

What factors will influence the timing of the share repurchase?

The timing of the share repurchase will depend on stock price, market conditions, and other factors.

Why did The Andersons, Inc. decide to implement a share repurchase program?

The program reflects the company's commitment to returning cash to shareholders and its confidence in its stock valuation.