Coty Inc. Announces $500 Million Class A Share Repurchase Authorization
NEW YORK--(BUSINESS WIRE)--Feb. 4, 2016--
Inc. (NYSE: COTY) today announced that its Board of Directors has
approved a $500 million share repurchase authorization of its Class A
“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.
Repurchases may be made from time to time at the Company’s discretion,
based on ongoing assessments of the capital needs of the business, the
market price of its common stock, and general market conditions. No time
has been set for a repurchase program, and any such program may be
suspended or discontinued at any time. The repurchase authorization
enables the Company to purchase its common stock from time to time
through open market purchases, negotiated transactions or other means,
including 10b5-1 trading plans in accordance with applicable securities
laws and other restrictions.
About Coty Inc.
Coty is a leading global beauty company with net revenues of $4.4
billion for the fiscal year ended June 30, 2015. Founded in Paris in
1904, Coty is a pure play beauty company with a portfolio of well-known
fragrances, color cosmetics and skin & body care products sold in over
130 countries and territories. Coty’s product offerings include such
power brands as adidas, Calvin Klein, Chloé, Davidoff, Marc Jacobs,
OPI, philosophy, Playboy, Rimmel and Sally Hansen.