NewMarket Corporation Authorizes New Share Repurchase Program
2024年12月13日 - 7:01AM
ビジネスワイヤ(英語)
The Board of Directors of NewMarket Corporation (NYSE: NEU) (the
“Company”) approved a new share repurchase program authorizing
management to repurchase up to $500 million of the Company’s
outstanding common stock through December 31, 2027, as market
conditions warrant and covenants under the Company’s existing debt
agreements permit. The new repurchase program will replace the
Company’s existing $500 million repurchase program approved by the
Board of Directors in October 2021, which will expire on December
31, 2024. Under the new program, the Company may conduct share
repurchases in the open market, in privately negotiated
transactions, through block trades or pursuant to any trading plan
that may be adopted in accordance with Rule 10b5-1 of the
Securities Exchange Act of 1934. The new program does not require
the Company to acquire any specific number of shares and may be
terminated or suspended at any time.
NewMarket Corporation is a holding company operating through its
subsidiaries Afton Chemical Corporation (Afton), Ethyl Corporation
(Ethyl), and American Pacific Corporation (AMPAC). The Afton and
Ethyl companies develop, manufacture, blend, and deliver chemical
additives that enhance the performance of petroleum products. AMPAC
is a manufacturer of specialty materials primarily used in solid
rocket motors for the aerospace and defense industries. The
NewMarket family of companies has a long-term commitment to its
people, to safety, to providing innovative solutions for its
customers, and to making the world a better place.
Some of the information contained in this press release
constitutes forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Although
NewMarket’s management believes its expectations are based on
reasonable assumptions within the bounds of its knowledge of its
business and operations, there can be no assurance that actual
results will not differ materially from expectations.
Factors that could cause actual results to differ materially
from expectations include, but are not limited to, the availability
of raw materials and distribution systems; disruptions at
production facilities, including single-sourced facilities; hazards
common to chemical businesses; the ability to respond effectively
to technological changes in our industries; failure to protect our
intellectual property rights; sudden, sharp, or prolonged raw
material price increases; competition from other manufacturers;
current and future governmental regulations; the loss of
significant customers; termination or changes to contracts with
contractors and subcontractors of the U.S. government or directly
with the U.S. government; failure to attract and retain a
highly-qualified workforce; an information technology system
failure or security breach; the occurrence or threat of
extraordinary events, including natural disasters, terrorist
attacks, wars and health-related epidemics; risks related to
operating outside of the United States; political, economic, and
regulatory factors concerning our products; the impact of
substantial indebtedness on our operational and financial
flexibility; the impact of fluctuations in foreign exchange rates;
resolution of environmental liabilities or legal proceedings;
limitation of our insurance coverage; our inability to realize
expected benefits from investment in our infrastructure or from
acquisitions, or our inability to successfully integrate
acquisitions into our business; the underperformance of our pension
assets resulting in additional cash contributions to our pension
plans; and other factors detailed from time to time in the reports
that NewMarket files with the Securities and Exchange Commission,
including the risk factors in Part I, Item 1A. “Risk Factors” of
our Annual Report on Form 10-K for the year ended December 31, 2023
and Part II, Item 1A. “Risk Factors” of our Quarterly Report on
Form 10-Q for the quarterly period ended September 30, 2024, which
are available to shareholders at www.newmarket.com.
You should keep in mind that any forward-looking statement made
by NewMarket in the foregoing discussion speaks only as of the date
on which such forward-looking statement is made. New risks and
uncertainties arise from time to time, and it is impossible for us
to predict these events or how they may affect the Company. We have
no duty to, and do not intend to, update or revise the
forward-looking statements in this discussion after the date
hereof, except as may be required by law. In light of these risks
and uncertainties, you should keep in mind that the events
described in any forward-looking statement made in this discussion,
or elsewhere, might not occur.
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version on businesswire.com: https://www.businesswire.com/news/home/20241210821417/en/
FOR INVESTOR INFORMATION CONTACT: William J.
Skrobacz Investor Relations Phone: 804.788.5555
Fax: 804.788.5688 Email:
investorrelations@newmarket.com
NewMarket (NYSE:NEU)
過去 株価チャート
から 11 2024 まで 12 2024
NewMarket (NYSE:NEU)
過去 株価チャート
から 12 2023 まで 12 2024