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Ingredion Incorporated Buyback

OLI recorded this information on 9/26/2022

Company: Ingredion Incorporated
Buyback: INGR buyback
Share Amount Authorized: 6,000,000
Buyback Details: Today, the board of directors of Ingredion Incorporated (NYSE: INGR) declared a quarterly dividend of $0.71 per share on the Company's common stock, an increase of 9% over the previous quarter's dividend per share. The dividend is payable on October 25, 2022, to stockholders of record at the close of business on October 6, 2022. This is the eighth consecutive year Ingredion's board approved a quarterly dividend increase in the third quarter. Ingredion also announced that its board of directors has authorized the repurchase of up to 6 million shares of the Company's common stock from September 26, 2022, through December 31, 2025, under a new stock repurchase program. This stock repurchase program replaces the prior stock repurchase program, which had approximately 3.8 million shares remaining for repurchase. Jim Zallie, president and chief executive officer, said, "The board's increased share repurchase authorization reflects its confidence in the Company's ability to generate strong cash flow from operations, support strategic investments, and its commitment to total shareholder return through both stock repurchases and an increased dividend payout."

Ingredion provides ingredients solutions that transforms corn, tapioca, potatoes, stevia, grains, fruits, gums and vegetables into ingredients and biomaterials for the food, beverage, brewing and other industries. Co.'s product lines include starches and sweeteners, animal feed products and edible corn oil. Co.'s starch-based products include both food-grade and industrial starches, as well as biomaterials. Co.'s sweetener products include glucose syrups, maltose syrups, fructose corn syrup, caramel color, dextrose, polyols, maltodextrins, and glucose and syrup solids. Co.'s products are derived from the processing of corn and other starch-based materials, such as tapioca, potato, and rice.

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Company Name: 
Ingredion Inc
Stock buyback: 
INGR buyback
Website: 
www.ingredion.com
Sector: 
Food & Beverage
Number of ETFs Holding INGR: 
83
Total Market Value Held by ETFs: 
$1.48B
Total Market Capitalization: 
$7.71B
% of Market Cap. Held by ETFs: 
19.24%
 

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Buy (3.33 out of 4)
47th percentile
(ranked lower than approx. 53% of all stocks covered)

Analysts' Target Price:
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