WD-40 Company Announces New $75.0 Million Share Repurchase Plan
SAN DIEGO, Oct. 13, 2021 /PRNewswire/ -- WD-40 Company (NASDAQ:WDFC) today announced that its board of directors approved a new share repurchase plan. Under the new plan, which will become effective on November 1, 2021, the Company is authorized to acquire up to $75.0 million of its outstanding shares through August 31, 2023. The timing and amount of repurchases will be based on terms and conditions acceptable to the Company and in compliance with all laws and applicable regulations.
"Today I am happy to share with you that our board of directors approved a new share repurchase plan," said Jay Rembolt, vice president and chief financial officer of WD-40 Company. "When the pandemic began, we elected to suspend stock repurchases under our previous share repurchase plan in order to conserve our cash while we monitored the long-term impacts of the pandemic. The newly authorized share repurchase plan reflects our confidence in our long-term growth outlook, commitment to our capital allocation strategy, and capacity to return capital to our stockholders."
About WD-40 Company
WD-40 Company is a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories, and homes around the world. The Company markets a wide range of maintenance products and homecare and cleaning products under the following well-known brands: WD-40®, 3-IN-ONE®, GT85®, X-14®, 2000 Flushes®, Carpet Fresh®, no vac®, Spot Shot®, 1001®, Lava® and Solvol®.
Headquartered in San Diego, WD-40 Company recorded net sales of $408.5 million in fiscal year 2020 and its products are currently available in more than 176 countries and territories worldwide. WD-40 Company is traded on the NASDAQ Global Select market under the ticker symbol "WDFC." For additional information about WD-40 Company please visit http://www.wd40company.com.
SOURCE WD-40 Company
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