Eastman Chemical (EMN) Adds $300M to Buyback Plan

May 2, 2013 12:02 PM EDT
Eastman Chemical Co. (NYSE: EMN) has approved the repurchase of up to an additional $300 million of Eastman common stock.

The new stock repurchase authorization is in addition to the remaining amount under the $300 million of stock repurchases authorized by the Board in February 2011.

Share repurchases will be funded with available cash and implemented through purchases made from time to time in either the open market or private transactions. The timing, volume, and nature of share repurchases will be at the discretion of management, depending on market conditions, applicable securities laws, and other factors, and may be suspended or discontinued at any time. Eastman may also implement all or part of the repurchases under one or more Rule 10b5-1 trading plans, which would allow repurchases under pre-set terms at times when Eastman might otherwise be prevented from doing so under insider trading laws or because of self-imposed trading restrictions.

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