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Bunge Announces Expansion of Existing Share Repurchase Program

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Bunge Global (NYSE: BG) announced its Board's authorization of an additional $500 million share repurchase program on November 13, 2024. This expansion adds to the approximately $800 million remaining from a previous program authorized in June 2023, bringing the total authorization to $1.3 billion. The company plans to use proceeds from the sale of its sugar and bioenergy joint venture interest to fund the expanded program. The repurchases can be executed through various means, including open market and private transactions, with timing and volume dependent on market conditions.

Bunge Global (NYSE: BG) ha annunciato l'autorizzazione da parte del suo Consiglio di un ulteriore programma di riacquisto di azioni del valore di 500 milioni di dollari il 13 novembre 2024. Questa espansione si aggiunge ai circa 800 milioni di dollari rimanenti da un programma precedente autorizzato a giugno 2023, portando l'autorizzazione totale a 1,3 miliardi di dollari. L'azienda pianifica di utilizzare i proventi dalla vendita della sua partecipazione nella joint venture nel settore dello zucchero e della bioenergia per finanziare il programma ampliato. I riacquisti possono essere eseguiti tramite vari mezzi, inclusi il mercato aperto e transazioni private, con tempistiche e volumi che dipendono dalle condizioni di mercato.

Bunge Global (NYSE: BG) anunció la autorización por parte de su Junta de un programa adicional de recompra de acciones por 500 millones de dólares el 13 de noviembre de 2024. Esta expansión se suma a los aproximadamente 800 millones de dólares restantes de un programa anterior autorizado en junio de 2023, llevando la autorización total a 1,3 mil millones de dólares. La empresa planea usar los ingresos de la venta de su participación en la empresa conjunta de azúcar y bioenergía para financiar el programa ampliado. Las recompensas pueden ejecutarse a través de diversos medios, incluidas transacciones en el mercado abierto y privadas, siendo el momento y el volumen dependientes de las condiciones del mercado.

Bunge Global (NYSE: BG)는 2024년 11월 13일 이사회에서 추가 5억 달러의 주식 매입 프로그램 승인을 발표했습니다. 이 확장은 2023년 6월에 승인된 기존 프로그램에서 남은 약 8억 달러에 추가되어 총 승인 금액이 13억 달러에 이릅니다. 회사는 확장된 프로그램을 자금 지원하기 위해 설탕 및 바이오에너지 조인트 벤처 참여의 판매 수익을 사용할 계획입니다. 매입은 시장 조건에 따라 시기와 규모가 달라지며, 공개 시장 및 사적 거래를 포함한 다양한 방법을 통해 실행될 수 있습니다.

Bunge Global (NYSE: BG) a annoncé l'autorisation par son Conseil d'un programme supplémentaire de rachat d'actions de 500 millions de dollars le 13 novembre 2024. Cette expansion s'ajoute aux environ 800 millions de dollars restants d'un programme précédent approuvé en juin 2023, portant le total de l'autorisation à 1,3 milliard de dollars. L'entreprise prévoit d'utiliser les produits de la vente de sa participation dans une coentreprise de sucre et de bioénergie pour financer le programme élargi. Les rachats peuvent être effectués par divers moyens, y compris sur le marché ouvert et par des transactions privées, le timing et le volume dépendant des conditions du marché.

Bunge Global (NYSE: BG) gab am 13. November 2024 die Genehmigung seines Vorstands für ein zusätzliches Aktienrückkaufprogramm im Wert von 500 Millionen Dollar bekannt. Diese Erweiterung kommt zu den etwa 800 Millionen Dollar, die aus einem früheren Programm, das im Juni 2023 genehmigt wurde, verbleiben, wodurch die Gesamtgenehmigung auf 1,3 Milliarden Dollar steigt. Das Unternehmen plant, die Einnahmen aus dem Verkauf seines Anteils an einem Zucker- und Bioenergie-Joint Venture zur Finanzierung des erweiterten Programms zu verwenden. Die Rückkäufe können auf verschiedene Weise, einschließlich des offenen Marktes und privater Transaktionen, durchgeführt werden, wobei Zeitrahmen und Volumen von den Marktbedingungen abhängen.

Positive
  • Authorization of additional $500 million for share repurchases
  • Total buyback capacity increased to $1.3 billion
  • Funding secured from sale of sugar and bioenergy joint venture interest
Negative
  • None.

Insights

This $500 million expansion of Bunge's share repurchase program, bringing the total authorization to $1.3 billion, signals strong financial confidence and strategic capital allocation. The company is effectively recycling proceeds from its sugar and bioenergy joint venture sale into shareholder returns. Share buybacks typically support stock price by reducing share count and increasing earnings per share.

The flexible, open-ended nature of the program, combined with multiple execution methods (open market, private transactions) and Rule 10b5-1 compliance, provides Bunge with significant operational latitude. This structure allows for opportunistic purchases during market volatility while maintaining regulatory compliance. With a market cap of $12.1 billion, the total buyback authorization represents approximately 10.7% of Bunge's market value - a meaningful portion that could materially impact share float and trading dynamics.

ST. LOUIS--(BUSINESS WIRE)-- Bunge Global SA (NYSE: BG) (“Bunge”) today announced that on November 13, 2024, its Board of Directors authorized the repurchase of an additional $500 million of its issued and outstanding registered shares, par value $0.01 per share (each a “Share,” and collectively the “Shares”) under a previous share repurchase program authorized on June 13, 2023. This is in addition to approximately $800 million for Share repurchases that remain available under the existing share repurchase program as of September 30, 2024, for an aggregate purchase authorization of approximately $1.3 billion (the “Expanded Program”).

Greg Heckman, Bunge’s Chief Executive Officer, said, “As we continuously look for opportunities to best use our capital, share repurchases are an important consideration in our allocation framework. We are pleased to use a meaningful amount of the proceeds from the sale of our interest in the sugar and bioenergy joint venture to expand our existing share repurchase program. This additional $500 million authorization gives us capacity to execute additional repurchases beyond our previous commitment.”

The Expanded Program continues to have an indefinite term. The repurchases may be made from time to time through a variety of means, including in the open market, in privately negotiated transactions or through other means as determined by Bunge, and in compliance with applicable legal requirements. The repurchases could include purchases pursuant to a written trading plan in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, which allows Bunge to repurchase Shares at times when they might otherwise be prevented from doing so by applicable securities laws or under self-imposed trading blackout periods. The timing and number of Shares repurchased will depend on a variety of factors, including share price, general economic and market conditions, and other considerations. The Expanded Program may be modified, suspended or discontinued at any time without further notice.

About Bunge

At Bunge (NYSE: BG), our purpose is to connect farmers to consumers to deliver essential food, feed and fuel to the world. With more than two centuries of experience, unmatched global scale and deeply rooted relationships, we work to strengthen global food security, increase sustainability where we operate, and help communities prosper. As a leader in oilseed processing and a leading producer and supplier of specialty plant-based oils and fats, we value our partnerships with farmers to bring quality products from where they’re grown to where they’re consumed. At the same time, we collaborate with our customers to develop tailored and innovative solutions to meet evolving dietary needs and trends in every part of the world. Our Company has its registered office in Geneva, Switzerland and its corporate headquarters in St. Louis, Missouri. We have approximately 23,000 dedicated employees working across approximately 300 facilities located in more than 40 countries.

Cautionary Statement Concerning Forward-Looking Statements

The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward looking statements to encourage companies to provide prospective information to investors. This press release includes forward looking statements that reflect our current expectations and projections about our future results, performance, prospects and opportunities. Forward looking statements include all statements that are not historical in nature and may include, among other things, statements relating to the timing and amount of any stock repurchases and our liquidity position. We have tried to identify these forward-looking statements by using words including "may," "will," "should," "could," "expect," "anticipate," "believe," "plan," "intend," "estimate," "continue" and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause our actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward looking statements. The following factors, among others, could cause actual results to differ from these forward looking statements: the impact on our employees, operations, and facilities from the war in Ukraine and the resulting economic and other sanctions imposed on Russia, including the impact on us resulting from the continuation and/or escalation of the war and sanctions against Russia; the effect of weather conditions and the impact of crop and animal disease on our business; the impact of global and regional economic, agricultural, financial and commodities market, political, social and health conditions; changes in government policies and laws affecting our business, including agricultural and trade policies, financial markets regulation and environmental, tax and biofuels regulation; the impact of seasonality; the impact of government policies and regulations; the outcome of pending regulatory and legal proceedings; our ability to complete, integrate and benefit from acquisitions, divestitures, joint ventures and strategic alliances, including without limitation Bunge’s pending business combination with Viterra; the impact of industry conditions, including fluctuations in supply, demand and prices for agricultural commodities and other raw materials and products that we sell and use in our business, fluctuations in energy and freight costs and competitive developments in our industries; the effectiveness of our capital allocation plans, funding needs and financing sources; the effectiveness of our risk management strategies; operational risks, including industrial accidents, natural disasters, pandemics or epidemics, wars and cybersecurity incidents; changes in foreign exchange policy or rates; the impact of our dependence on third parties; our ability to attract and retain executive management and key personnel; and other factors affecting our business generally.

The forward looking statements included in this release are made only as of the date of this release, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward looking statements to reflect subsequent events or circumstances.

You should refer to "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the SEC on February 22, 2024.

Media Contact:

Bunge News Bureau

Bunge

636-292-3022

news@bunge.com

Investor Contact:

Ruth Ann Wisener

Bunge

636-292-3014

Ruthann.wisener@bunge.com

Source: Bunge Global SA

FAQ

How much is Bunge's (BG) new share repurchase authorization worth?

Bunge's new share repurchase authorization is $500 million, announced on November 13, 2024.

What is the total value of Bunge's (BG) current share repurchase program?

The total value of Bunge's share repurchase program is approximately $1.3 billion, combining the new $500 million authorization with $800 million remaining from the previous program.

How will Bunge (BG) fund its expanded share repurchase program?

Bunge will fund the expanded share repurchase program using proceeds from the sale of its interest in the sugar and bioenergy joint venture.

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