Business
Keurig Dr Pepper Announces New Share Repurchase Authorization
Company Also Reaffirms Full-Year 2021 Net Sales and Adjusted Diluted EPS Guidance BURLINGTON, Mass. and FRISCO, Texas, Oct. 1, 2021 /PRNewswire/ -- Keurig Dr
About this update from Keurig Dr Pepper Inc.
[{"type":"text","content":"Company Also Reaffirms Full-Year 2021 Net Sales and Adjusted Diluted EPS Guidance\n\n\nBURLINGTON, Mass. and FRISCO, Texas, Oct. 1, 2021 /PRNewswire/ -- Keurig Dr Pepper Inc. (NASDAQ: KDP) today announced that its Board of Directors has authorized a share repurchase program of up to $4 billion of the Company's outstanding common stock (\"shares\"), enabling the Company to opportunistically return value to shareholders. \nThe $4 billion authorization is effective for four years, beginning on January 1, 2022 and expiring on December 31, 2025 and does not require the purchase of any minimum number of shares. Based on the closing price of KDP shares as of September 29, 2021, the full authorization would currently represent approximately 8% of the Company's outstanding common stock.\nKDP may purchase shares from time to time at the discretion of management through open market purchases, privately negotiated transactions, block trades, accelerated or other structured share repurchase programs, or other means. The manner, timing, pricing and amount of any transactions will be subject to the discretion of KDP and may be based upon market conditions, regulatory requirements and alternative opportunities that KDP may have for the use or investment of its capital. \nIn connection with the announcement and the Company's virtual Investor Day event later today, the Company today also reaffirmed its outlook for 2021 constant currency net sales growth in the range of 6% to 7% and Adjusted diluted EPS growth in the range of 13% to 15%.\nKDP Investor Contacts:Steve AlexanderT: 972-673-6769 / [email protected]\nKDP Media Contact:Katie GilroyT: 781-418-3345 / [email protected] \nAbout Keurig Dr Pepper Keurig Dr Pepper (KDP) is a leading beverage company in North America, with annual revenue in excess of $11 billion and nearly 27,000 employees. KDP holds leadership positions in soft drinks, specialty coffee and tea, water, juice and juice drinks and mixers, and markets the #1 single serve coffee brewing system in the U.S. and Canada. The Company's portfolio of more than 125 owned, licensed and partner brands is designed to satisfy virtually any consumer need, any time, and includes Keurig®, Dr Pepper®, Green Mountain Coffee Roasters®, Canada Dry®, Snapple®, Bai®, Mott's®, CORE® and The Original Donut Shop®. Through its powerful sales and ...