Archer Daniels Midland (ADM) Announces $1 Billion Accelerated Share Repurchase Agreement

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Go back to Archer Daniels Midland (ADM) Announces $1 Billion Accelerated Share Repurchase Agreement

ADM Announces $1 Billion Accelerated Share Repurchase Agreement

March 13, 2024 7:00 AM EDT

CHICAGO--(BUSINESS WIRE)-- ADM (NYSE: ADM) today announced that it has entered into an accelerated share repurchase (ASR) agreement with delayed share delivery with Merrill Lynch International, an affiliate of BofA Securities, Inc., to repurchase $1 billion of ADMs common stock.

We finished 2023 with strong momentum in terms of returning cash to our shareholders, and we will continue to prioritize shareholders in our cash deployment in 2024, Board Chair and CEO Juan Luciano said. After repurchasing $1.5 billion of shares in Q4 2023 and nearly $330 million of shares so far in Q1 2024, we are accelerating our... More