Corteva Agriscience Announces $3 Billion Share Repurchase Program
20 November 2024, Indianapolis: Corteva, Inc. (NYSE: CTVA) today announced that its Board of Directors authorized a new $3 billion share repurchase program. The authorization is immediately effective, does not expire, and gives management discretion in determining the conditions under which shares may be purchased.
This newly authorized program is in addition to the Company’s existing $2.0 billion program announced in September 2022, which had approximately $750 million remaining as of September 30, 2024. Shares of the Company’s common stock may be repurchased periodically in open-market or private transactions. The actual timing, number and value of shares repurchased under the Company’s authorized share repurchase program will depend on a variety of factors including the market price of Corteva common stock, general market and economic conditions, applicable legal requirements and other business considerations and uses of capital, including organic growth, dividends, and acquisitions.
“This action underscores our Board’s confidence in Corteva’s future and our commitment to returning capital to shareholders” said Chuck Magro, Chief Executive Officer, Corteva Agriscience. “Corteva’s new share repurchase program, together with the Company’s dividend increase earlier this year, demonstrate Corteva’s strong financial outlook and commitment to a disciplined capital deployment strategy.”
For updates on the Company’s strategy, technology pipeline, and financial framework, join Corteva’s previously announced Investor Day, today at 9 a.m. Eastern Time. Registration is available on the Events and Presentations Page of the Corteva Investor Relations website. A replay will be available on the website following the webcast.
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