Rentech, Inc. (RTK) Announces $25 Million Buyback Plan
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Rentech, Inc. (NYSE: RTK) today announced that its Board of Directors has authorized the repurchase of up to $25 million of its outstanding common shares.
"We believe that the repurchase of our common stock at attractive prices is a good investment, and highlights our commitment to use our capital to maximize value for our shareholders," said D. Hunt Ramsbottom, President and Chief Executive Officer of Rentech. Mr. Ramsbottom continued, "We believe we have ample resources to fund this program while maintaining the financial flexibility to invest in our growth initiatives. We remain committed to maintaining a strong balance sheet and we are confident in our future growth prospects and ability to drive long-term value for our shareholders."
"We believe that the repurchase of our common stock at attractive prices is a good investment, and highlights our commitment to use our capital to maximize value for our shareholders," said D. Hunt Ramsbottom, President and Chief Executive Officer of Rentech. Mr. Ramsbottom continued, "We believe we have ample resources to fund this program while maintaining the financial flexibility to invest in our growth initiatives. We remain committed to maintaining a strong balance sheet and we are confident in our future growth prospects and ability to drive long-term value for our shareholders."
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