Monday 14th of March 2022 03:56:53 AM
Ecolab to repurchase $500M of its shares
- Ecolab (NYSE:ECL) plans to repurchase $500M of its shares in 2022; current repurchase represents 1.1% of its current total market cap.
- As of Feb.28, 2022, Ecolab had ~286M shares outstanding.
- "We believe the recent stock market decline results in a very attractive opportunity in Ecolab shares. We are very pleased with our strong financial position and cash flows which allow us to both repurchase shares at what we see as attractive prices as well as continue to invest in our business and to deleverage our balance sheet," president & CEO Christophe Beck commented.
- YTD, the stock lost 30.9%.