AptarGroup Announces New $350 Million Share Repurchase Authorization and Raises Quarterly Dividend

CRYSTAL LAKE, Ill.–(BUSINESS WIRE)–The Board of Directors of AptarGroup, Inc. (NYSE: ATR) today authorized the repurchase of up to $350 million of the Company’s common stock. This new authorization replaces all previous authorizations. AptarGroup may repurchase shares through the open market, privately negotiated transactions or other programs, subject to market conditions. The Board also increased the quarterly cash dividend by 7% to $0.32 per share. The payment date is November 23, 2016, to stockholders of record as of November 2, 2016.

Steve Hagge, President and CEO commented, “The new $350 million repurchase authorization and increased quarterly cash dividend are reflective of our strong balance sheet and strong cash flow from operations which allow us to continue to invest in our business and return value to shareholders.”

As previously announced, AptarGroup will hold a conference call on Friday, October 28, 2016, at 8:00 a.m. Central Time to discuss the Company’s third quarter results for 2016. The call will last approximately one hour. Interested parties are invited to listen to a live webcast by visiting the Investor Relations page at www.aptar.com. Replay of the conference call can also be accessed for a limited time on the Investor Relations page of the website.

Read the full press release here.