ConAgra authorizes $750 million share repurchase
Dec. 15, 2011
by Eric Schroeder
OMAHA — The board of directors of ConAgra Foods, Inc. on Dec. 14 approved a $750 million increase to the company’s share repurchase authorization, with no expiration date.
ConAgra said shares will be repurchased periodically over several years, depending on market conditions and other factors, through open-market or privately negotiated transactions. The repurchases are expected to be funded by cash generated from operations.
“This authorization is part of broader capital allocation priorities that include maintaining an investment grade rating and strong balance sheet while deploying the company’s strong free cash resources towards a top-tier dividend policy, strategic acquisitions and other growth investments, and share repurchases,” ConAgra said.