Lorillard, Inc. Buyback
OLI recorded this information on 5/21/2013
Company:
Lorillard, Inc.
Buyback:
LO buyback
$Amount Authorized:
$1,000,000,000
Buyback Details:
Lorillard, Inc. (NYSE: LO), the third largest manufacturer of cigarettes in the United States, announced today that its Board of Directors amended the Company's existing $500 million share repurchase program to authorize an additional $500 million in repurchases, authorizing the Company to repurchase in the aggregate up to $1.0 billion of its outstanding common stock. The original $500 million share repurchase program was announced on March 8, 2013. Purchases by the Company under this program may be made from time to time at prevailing market prices in open market purchases, privately negotiated transactions, block purchase techniques or otherwise, as determined by the Company's management.
Lorillard is a manufacturer of cigarettes. Newport, Co.'s main cigarette brand, includes both menthol and non-menthol product offerings. In addition to the Newport brand, Co.'s product line has four additional brand families marketed under the Kent, True, Maverick, and Old Gold brand names. As of Dec 31 2014, these five brands included 45 different product offerings. Co., through its other subsidiaries, is also a global electronic cigarette company, marketed under the blu eCigs brand. Co. sells its products primarily to wholesale distributors, who in turn service retail outlets, chain store organizations, and government agencies, including the U.S. Armed Forces.
Open the LO Page at The Online Investor »
|
Open the LO Page at The Online Investor (in a new window) »
Free LO Email Alerts: Get SEC Filing Alerts Get Dividend Alerts |
Hold (2.20 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data; powered by Xignite |