Church & Dwight Co., Inc. Extends Repurchase of Company Shares.Business Editors PRINCETON, N.J.--(BUSINESS WIRE)--April 28, 2000 Church & Dwight Co., Inc. (NYSE NYSE See: New York Stock Exchange :CHD CHD coronary heart disease. ChD abbr. Latin Chirurgiae Doctor (Doctor of Surgery) CHD, n.pr See disease, coronary heart. CHD canine hip dysplasia. ), manufacturer of ARM & HAMMER(R) consumer and specialty products, today reported that its Board had authorized au·thor·ize tr.v. au·thor·ized, au·thor·iz·ing, au·thor·iz·es 1. To grant authority or power to. 2. To give permission for; sanction: the repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. of up to two million additional shares of the Company's common stock from time to time as market conditions permit. The Company expects to use the shares for stock option programs and other corporate purposes. The Company has approximately 38.2 million shares outstanding. Since April 1998, the Company has purchased 1.8 million shares under a prior share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. authorization totalling 2 million shares. The Board's action reflects the Company's future outlook and its belief that the stock is at the lower end of its valuation range. Church & Dwight Co., Inc. is the manufacturer of ARM & HAMMER consumer and specialty products. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. relating, among others, to financial objectives, sales growth and margin improvement. Many of these statements depend on factors outside the Company's control, such as economic conditions, market growth and consumer demand, competitive products and pricing, raw material costs and other matters. With regard to new product introductions, there is particular uncertainty related to trade, competitive and consumer reactions. If the Company's assumptions are incorrect, or there is a significant change in some of these key factors, the Company's performance could vary materially from the forward-looking statements in this Report. |
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