Hillenbrand Announces New $300 Million Share Repurchase Program
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
The new
"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.