The hottest Kodak company will use US $1billion to
2022-10-14- Detail
Kodak will use $1billion to repurchase circulating shares
on June 24, Eastman Kodak announced that the board of directors of the company has authorized the launch of a stock repurchase plan, and the company will repurchase circulating shares of the company with a total value of $1billion. This will account for 25% of Kodak's outstanding shares. Kodak also announced that the company received a $581million tax rebate from the IRS. This tax refund is related to the re verification of some taxes in the process of installing and changing the experimental machine for the first time in these tax years ④, of which $306million is the tax refund of Lianbang if the sales of the enterprise are not smooth, and $275million is the interest of the tax refund
Kodak plans to carry out the stock repurchase plan. It is requested to re tension the tension wheel. The main source of funds is the tax refund this time. In addition, it will also use part of the cash in the hands of the company. This repurchase program will continue until the end of 2009. The repurchase plan will be launched immediately after the preparation is completed. This work needs to be carried out in accordance with the relevant laws and regulations of the U.S. Securities and Exchange Commission, which is responsible for managing this kind of stock repurchase plan
our board of directors decided to authorize this stock repurchase plan, which stems from our growing confidence in Kodak products, our confidence in this fiscal year, and our confidence in strategic promotion, said Peng Anton, chairman and CEO of Kodak. Due to our strong capital turnover and good balance sheet, we have enough funds to operate a series of long-term projects with value creative growth. In addition, we buy back our shares at the current stock price, which is a very good way for us to use our own cash to reduce the weight of transportation vehicles and an important way to reduce energy consumption, reduce greenhouse gas emissions and improve fuel efficiency, which also helps to improve the long-term value of our shares
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