Hillenbrand Announces New $300 Million Share Repurchase Program

Hillenbrand has announced a new share repurchase program, authorizing up to $300 million, effective from December 2, 2021.

Rhea-AI Summary

Hillenbrand has announced a new share repurchase program, authorizing up to $300 million, effective from December 2, 2021. This program replaces a previous authorization, which had $50 million remaining after a $150 million repurchase completion as of November 15, 2021. The initiative reflects the company's confidence in its financial position and future cash generation. The repurchase strategy aligns with Hillenbrand's capital allocation focus on organic growth, strategic acquisitions, and shareholder returns through dividends and share buybacks.

Positive

• Authorization of a new share repurchase program totaling $300 million.
• Increased shareholder returns reflecting confidence in future earnings.
• Strong balance sheet enabling significant capital deployment.

Negative

• None.

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BATESVILLE, Ind., Dec. 6, 2021 /PRNewswire/ -- Hillenbrand, Inc. (NYSE: HI) announced today that its Board of Directors authorized a new share repurchase program of up to $300 million effective December 2, 2021. The new authorization replaces the prior program, under which the company had $50 million of remaining authorization after completing $150 million in share repurchases through November 15, 2021.

The new $300 million program supports Hillenbrand's overall capital allocation strategy, which remains unchanged. The company's capital deployment priorities remain focused on reinvesting in the business organically, evaluating strategic acquisitions, and returning cash to shareholders through opportunistic share repurchases and quarterly dividends.

"The board's action to approve the new authorization for share repurchases is in recognition of our strong balance sheet and demonstrates their confidence in the future earnings and cash generation power of Hillenbrand," said Kim Ryan, Executive Vice President and incoming CEO of Hillenbrand. "We believe it allows us to use our strong free cash flow to return capital to shareholders while continuing to execute our profitable growth strategy."

Purchases under the program may be made in the open market or in privately negotiated transactions from time to time at management's discretion. The repurchase program may be suspended or discontinued at any time.

About Hillenbrand

Hillenbrand (www.Hillenbrand.com) is a global diversified industrial company with businesses that serve a wide variety of industries around the world. We pursue profitable growth and robust cash generation to drive increased value for our shareholders. Hillenbrand's portfolio includes industrial businesses such as Coperion, Milacron Injection Molding & Extrusion, and Mold-Masters, in addition to Batesville, a recognized leader in the death care industry in North America. Hillenbrand is publicly traded on the NYSE under "HI."

 

 

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SOURCE Hillenbrand, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the new share repurchase program amount for Hillenbrand (HI)?

Hillenbrand has authorized a new share repurchase program of up to $300 million.

When was the new share repurchase program for Hillenbrand (HI) authorized?

The new share repurchase program was authorized on December 2, 2021.

What was the remaining amount of the previous repurchase program for Hillenbrand (HI)?

The previous program had $50 million remaining after completing $150 million in share repurchases.

What are the main objectives of Hillenbrand's capital allocation strategy?

Hillenbrand's strategy focuses on organic reinvestment, strategic acquisitions, and returning cash to shareholders.

How does the share repurchase program affect Hillenbrand's (HI) stock price?

The program is expected to enhance shareholder value through reduced share dilution and potential stock price appreciation.