Pilgrim's Pride Corporation announced Oct. 31 that its board of directors has approved a new $200 million share repurchase authorization for its common stock over the next 12 months, reinforcing the company’s commitment to creating shareholder value and the strength of Pilgrim’s balance sheet and operating cash flow.
The company plans to implement its stock repurchase program through various means, which may include but are not limited to open market purchases, privately negotiated transactions, the use of derivative instruments and/or accelerated share repurchase programs. The extent to which the company repurchases its shares and the timing of such repurchases will vary and depend upon market conditions and other corporate considerations, as determined by the company’s management team. The company reserves the right to limit or terminate the repurchase program at any time without notice.
