Agriculture company Corteva (NYSE:CTVA) said its board has authorized a $3B share repurchase program, effective immediately.
CTVA shares were trading +1.44% Tuesday pre-market at $57.81.
The company said the authorization does not expire, and gives management discretion in determining the conditions under which shares may be purchased.
The new stock buyback program comes in addition to the company's existing $2B program announced in September 2022.
The $2B share repurchase program had ~$750M remaining as of September 30, 2024.
The company's shares may be repurchased periodically in open-market or private transactions.
Source: Press Release
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