Ingevity (NGVT) Adds $350M to Stock Buyback

The board of directors of Ingevity Corporation (NYSE: NGVT) approved the authorization for the repurchase of up to an additional $350 million of Ingevity’s outstanding common stock. The approval of this $350 million is in addition to the $100 million share repurchase program approved in February 2017. As of November 1, 2018, approximately $28 million in aggregate value of shares had been repurchased under the 2017 share repurchase program, with approximately $72 million remaining availability.

“We are committed to delivering value to our shareholders in a balanced and prudent manner,” said John Fortson, Ingevity’s executive vice president, chief financial officer and treasurer. “This additional authorization provides us with flexibility as we continually examine options for our uses of cash.”

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