Coty Inc. (NYSE: COTY) today announced that its Board of Directors has approved a $500 million share repurchase authorization of its Class A common stock.

“We are pleased that Coty’s strong balance sheet and cash flow enable us to return value to shareholders through our annual dividend and share repurchases, while at the same time continuing to invest in the business and to pursue acquisition opportunities. Today's announcement builds upon our continuing commitment to our shareholders,” stated Patrice de Talhouët, Coty Executive Vice President and Chief Financial Officer.