Cooper Companies increases share purchase program scope
CooperCompanies Boosts Share Buyback Plan by $1 Billion
In a substantial move, CooperCompanies, a global medical device company with two business units - CooperVision, a leading player in the contact lens industry, and CooperSurgical, specializing in fertility and women's healthcare - has announced an increase in its share repurchase program by $1 billion. The new total for the share repurchase program now stands at $2 billion.
Al White, President and Chief Executive Officer of CooperCompanies, made the announcement. This decision, he said, is a reflection of the company's strong balance sheet and cash flow generation. The Board of Directors' decision to increase the share repurchase program underscores their continued confidence in CooperCompanies' long-term growth trajectory.
The timing and total amount of share repurchases will depend on market conditions. Share repurchases may be made through open market purchases or privately negotiated purchases. It is important to note that the company is not obligated to acquire any specific amount of common stock under the share repurchase program.
Returning capital to shareholders through share repurchases is aligned with CooperCompanies' disciplined capital allocation strategy and commitment to enhancing shareholder value. However, investors should be aware that factors such as global political and economic conditions, changes in financial priorities, and other risks may cause actual results to differ from these forward-looking statements.
For more information about CooperCompanies, its products, and the share repurchase program, please visit www.coopercos.com. Alternatively, contact Kim Duncan, Vice President of Investor Relations and Risk Management, at 925-460-3663 or [email protected].
CooperCompanies' stock is traded on the Nasdaq under the ticker symbol COO. The company, headquartered in San Ramon, CA, has a workforce of over 16,000 employees. CooperCompanies' products are sold in over 130 countries and positively impact over fifty million lives each year.
It's worth noting that this press release contains forward-looking statements regarding the company's plans to repurchase shares of its common stock. CooperCompanies' SEC filings detail these risks and uncertainties.
Investors are encouraged to carefully consider the risks and uncertainties associated with these forward-looking statements, including those described in CooperCompanies' filings with the Securities and Exchange Commission.
This news marks a significant step for CooperCompanies as it continues to demonstrate its commitment to enhancing shareholder value and navigating the global market with confidence.
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