Primo Water Corporation Announces $50 Million Share Repurchase Program, Declaration of Quarterly Dividend and Results of Voting for Directors at Annual and Special Meeting of Shareowners
May 05, 2021
SHARE REPURCHASE PROGRAM
The Board of Directors authorized a new
“With our successful transformation into a pure play water company and successfully navigating the pandemic over the last twelve months, we have sufficient liquidity to fund our tuck-in acquisition program, in addition to an opportunistic return of capital plan in 2021,” said
The actual timing, manner, number, and value of shares repurchased under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of Primo’s common shares, general market and economic conditions, applicable law and other requirements, and other business considerations, provided however that the price per common share will not exceed the market price as at the date of acquisition (plus reasonable brokerage fees and commissions) in accordance with applicable securities laws and exchange rules.
DECLARATION OF DIVIDEND
Primo also announced that its Board of Directors declared a dividend of
VOTING RESULTS FOR ELECTION OF DIRECTORS
By a vote conducted by ballot, each of the nominees listed in the proxy statement dated
% of Votes
# of Votes
% of Votes
Details of the voting results on all matters considered at the Meeting are available in the Company’s report of voting results, which is available under the Company’s profile on SEDAR at www.sedar.com.
Primo’s water solutions expand consumer access to purified, spring and mineral water to promote a healthier, more sustainable lifestyle while simultaneously reducing plastic waste and pollution. Primo is committed to its water stewardship standards and is proud to partner with the
Primo is headquartered in
Safe Harbor Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 conveying management’s expectations as to the future based on plans, estimates and projections at the time Cott makes the statements. Forward-looking statements involve inherent risks and uncertainties and Primo cautions you that a number of important factors could cause actual results to differ materially from those contained in any such forward-looking statement. The forward-looking statements contained in this press release include, but are not limited to, statements related to the amount of shares that may be repurchased under the share repurchase program. The forward-looking statements are based on assumptions regarding management’s current plans and estimates. Management believes these assumptions to be reasonable but there is no assurance that they will prove to be accurate.
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