Whirlpool Corporation (Benton Harbor, MI, U.S.) announced that its board of directors has authorized a new share repurchase program of up to U.S. $500 million. The company said the share repurchase will be made from time to time on the open market as conditions warrant and will be funded with internally generated cash.
"The continuing strength of our global business gives us the ability to repurchase shares and enhance Whirlpool's value to our shareholders," said David R. Whitwam, Whirlpool's chairman and CEO. "This authorization reflects the Board's continued confidence in the company's strategy, management team, and long-term growth prospects."
The company also said the $750 million repurchase program it announced in 2000 is nearly complete.
to Daily News