American Vanguard Corporation Announces Share Repurchase Program
05/25/2023 - 08:30 AM
NEWPORT BEACH, Calif. --(BUSINESS WIRE)--
American Vanguard Corporation (NYSE: AVD) today announced that the Company’s Board of Directors has approved a program for repurchasing up to $15 million of common stock within the requirements of Exchange Act Rule 10b-18 over the next twelve months. It is expected that this program will commence during the first week of June 2023.
Eric Wintemute, Chairman and CEO of American Vanguard, stated, “This authorization to repurchase shares reflects the strong degree of confidence that our Board of Directors has in the strength of AVD’s core business, as well as our strategic growth initiatives. New biological crop protection and nutrition products in the Green Solutions portfolio and SIMPAS/Ultimus prescription application technologies for enhanced agricultural productivity and environmental sustainability are fundamentally transforming AVD into a technology-driven enterprise. In the collective interest of all shareholders, management and the Board believe that it is beneficial to take appropriate opportunities to acquire outstanding shares that we feel are undervalued to the expected success of the company in coming years.”
About American Vanguard
American Vanguard Corporation is a diversified specialty and agricultural products company that develops, manufactures, and markets solutions for crop protection and nutrition, turf and ornamentals management, commercial and consumer pest control. American Vanguard is included on the Russell 2000® & Russell 3000® Indexes and the Standard & Poors Small Cap 600 Index. To learn more about American Vanguard, please reference the Company’s web site at www.american-vanguard.com .
The Company, from time to time, may discuss forward-looking information. Except for the historical information contained in this release, all forward-looking statements are estimates by the Company’s management and are subject to various risks and uncertainties that may cause results to differ from management’s current expectations. Such factors include weather conditions, changes in regulatory policy and other risks as detailed from time-to-time in the Company’s SEC reports and filings. All forward-looking statements, if any, in this release represent the Company’s judgment as of the date of this release.
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Company Contacts:
American Vanguard Corporation
William A. Kuser, Director of Investor Relations
(949) 260-1200
williamk@amvac.com
Investor Representative
The Equity Group Inc.
www.theequitygroup.com
Lena Cati (212) 836-9611
Lcati@equityny.com
Source: American Vanguard Corporation
AVD Rankings
#4908 Ranked by Stock Gains
AVD Stock Data
Industry
Pesticide and Other Agricultural Chemical Manufacturing
Sector
Manufacturing
Tags
Process Industries, Chemicals: Agricultural, Manufacturing, Pesticide and Other Agricultural Chemical Manufacturing
Country
US
City
Newport Beach
About AVD
american vanguard corporation, through its subsidiaries, develops, manufactures, and markets specialty chemicals for agricultural, commercial, and consumer uses in the united states and internationally. the company manufactures and formulates chemicals, including insecticides, fungicides, herbicides, molluscicides, growth regulators, and soil fumigants in liquid, powder, and granular forms for crops, turf and ornamental plants, and human and animal health protection. it also markets and distributes end-use chemical and biological products for crop applications; distributes chemicals for greenhouse and nursery production markets; and offers formulations, such as pcnb, chlorothalonil, and propiconazole under the ffii and ffiii names. the company distributes its products through national distribution companies, and buying groups or co-operatives; and through sales offices, sales force executives, sales agents, and wholly owned distributors. american vanguard corporation was founded in 196