Greif Adopts $150M Stock Buyback Program

  • Greif Inc GEF has entered into a $75 million accelerated share repurchase agreement (ASR) with Bank of America, N.A.
  • Also, the company plans to repurchase an aggregate of $75 million shares of its Class A and Class B stock in open market purchases.  
  • Under the ASR, Greif will pay $75 million and receive an initial delivery of about 80% of the expected share repurchases. The remaining shares are expected to be delivered by the end of the first fiscal quarter of 2023.
  • Greif held $108.7 million in cash and equivalents as of April 30, 2022.
  • Price Action: GEF shares are trading higher by 6.62% at $62.63 on the last check Thursday.
Market News and Data brought to you by Benzinga APIs
Posted In: NewsBuybacksMoversTrading IdeasBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!