Cabot Corporation Board Declares Dividend and Increases Share Repurchase Authorization
“Our ‘Advancing the Core’ strategy includes the balance of investing for growth and returning cash to shareholders through dividends and share repurchases. The board’s actions confirm our commitment to this strategy,” said
The timing and amount of any shares repurchased will be determined by Cabot’s management based on its evaluation of market conditions and other factors. Shares will be repurchased in the open market or in privately negotiated transactions using the Company’s existing sources of liquidity and free cash flow generated in the future. All shares repurchased will be retired and restored to the status of authorized but unissued shares of common stock of the Company. This authorization has no time limit and may be suspended or discontinued at any time.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot’s expected target level of share repurchases over the next three years, sources of cash to fund its repurchases, and Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.
For Cabot Corporation
Steve Delahunt, 617-342-6255