Church & Dwight Board Approves Share Buyback Program Of Up To $500 Mln

(RTTNews) - While reporting its third-quarter results today, Church & Dwight Co., Inc. (CHD), a manufacturer of personal care, household and specialty products, said that its board of directors has authorized a new stock repurchase program of up to $500 million.

The company said that on November 1, its board authorized a new stock repurchase program, under which up to $500 million of the company's common stock may be repurchased in the future to reduce the number of shares outstanding. The previously authorized share repurchase program has been terminated.

In addition, Church & Dwight has a separate evergreen repurchase program that is intended to neutralize dilution associated with the exercise of stock options issued. Currently, the company has about 250 million shares outstanding.