A vote of confidence in ourselves: returning 11.5 billion dollars to the people who believe in us most
Colleagues, proud news from Investor Relations. The Board has approved a 2 billion dollar increase to this year's share repurchase program, lifting expected buybacks to 7.5 billion dollars, a 62 percent increase over last year. Total planned shareholder returns now reach 11.5 billion dollars.
We are doing this because, in the words of leadership, this does not reflect the Company's financial strength or long-term growth opportunity. The market undervalued us, so we are buying ourselves back at a discount, with conviction, at scale.
We know some of you spent this year being realigned around Cognis, our AI workforce. You were the strength the market could not yet see, and every role we reshaped made the balance sheet you are reading possible. The balance sheet has chosen to believe in itself.
A second cold brew tap is confirmed in returning pantries to mark the milestone. The share is worth more to us today than it was yesterday, and we found that value exactly where we were standing.
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