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Post Holdings Announces New Share Repurchase Authorization of $300 Million

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Rhea-AI Summary

Post Holdings, Inc. (NYSE:POST) has announced a new $300 million share repurchase program, effective September 3, 2022. This follows the completion of a previous $400 million authorization, under which approximately $354 million was repurchased. The company plans to buy back shares using cash on hand and operational cash flow, but retains discretion on the timing and amount of repurchases.

This move aims to enhance shareholder value by potentially increasing earnings per share and demonstrates confidence in the company's financial health.

Positive
  • New $300 million share repurchase program approved to enhance shareholder value.
  • Approximately $354 million repurchased from the previous $400 million program.
  • Repurchases funded by cash on hand and cash from operations, indicating financial strength.
Negative
  • None.

ST. LOUIS, Sept. 06, 2022 (GLOBE NEWSWIRE) -- Post Holdings, Inc. (NYSE:POST), a consumer packaged goods holding company, today announced its Board of Directors has approved a new $300 million share repurchase authorization, with share repurchases under the new authorization beginning on September 3, 2022. As of September 2, 2022, Post had repurchased approximately $354 million under its previous $400 million share repurchase authorization, which was approved on November 17, 2021, became effective on November 20, 2021 and was cancelled effective September 2, 2022.

Repurchases may be made from time to time in the open market, in private purchases, through forward, derivative, accelerated repurchase or automatic purchase transactions, or otherwise. The shares would be repurchased with cash on hand and cash from operations. Any shares repurchased would be held as treasury stock. The authorization does not, however, obligate Post to acquire any particular amount of shares, and repurchases may be suspended or terminated at any time at Post’s discretion.

About Post Holdings, Inc.

Post Holdings, Inc., headquartered in St. Louis, Missouri, is a consumer packaged goods holding company with businesses operating in the center-of-the-store, refrigerated, foodservice and food ingredient categories. Its businesses include Post Consumer Brands, Weetabix, Michael Foods and Bob Evans Farms. Post Consumer Brands is a leader in the North American ready-to-eat cereal category and also markets Peter Pan® nut butters. Weetabix is home to the United Kingdom’s number one selling ready-to-eat cereal brand, Weetabix®. Michael Foods and Bob Evans Farms are leaders in refrigerated foods, delivering innovative, value-added egg and refrigerated potato side dish products to the foodservice and retail channels. Post participates in the global convenient nutrition category through its minority ownership of BellRing Brands, Inc., a publicly-traded holding company offering ready-to-drink shake and powder protein products. Post participates in the private brand food category through its investment with third parties in 8th Avenue Food & Provisions, Inc., a leading, private brand centric, consumer products holding company. For more information, visit www.postholdings.com.

Contact:
Investor Relations
Matt Mainer
matt.mainer@postholdings.com
(314) 644-7618


FAQ

What is the new share repurchase authorization amount for Post Holdings?

Post Holdings has approved a new share repurchase authorization of $300 million.

When did the new share buyback program for POST begin?

The new share buyback program began on September 3, 2022.

How much did Post Holdings repurchase under its previous authorization?

Under the previous $400 million authorization, Post Holdings repurchased approximately $354 million.

What financial sources will Post Holdings use for the share repurchases?

Post Holdings will use cash on hand and cash from operations to fund the share repurchases.

What impact might the share repurchase program have on POST's stock price?

The share repurchase program could potentially increase earnings per share and enhance shareholder value, positively impacting POST's stock price.

POST HOLDINGS, INC.

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6.71B
46.61M
19.4%
96.14%
2.78%
Packaged Foods
Grain Mill Products
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United States of America
ST. LOUIS