Clearwater Paper Announces $100 Million Stock Repurchase

 

Clearwater Paper Corp., Spokane, Wash., USA, this week authorized the repurchase of up to $100 million of the company’s common stock, demonstrating its strong balance sheet and positive outlook on its business. This authorization follows the successful completion of the company’s previous $100 million stock repurchase authorization, which was implemented by the board of directors in December 2014. Clearwater Paper expects to fund the repurchase through available cash resources.

 

"Our new stock repurchase program reflects the board’s ongoing commitment to enhance shareholder value and confidence in our future cash generation capabilities," said Linda K. Massman, president and CEO. "Since beginning our stock repurchase programs in 2011, we have returned $330 million to our shareholders."

 

The repurchase program authorizes the company to purchase its common stock, on occasion, through open market purchases, negotiated transactions, or other means (including accelerated stock repurchases and 10b5-1 trading plans in accordance with applicable securities laws and other restrictions). The company has no obligation to repurchase stock under this program and may suspend or terminate the program at any time. 

Clearwater Paper produces consumer tissue, away-from-home tissue, parent roll tissue, bleached paperboard, and pulp at facilities across the U.S. The company is a supplier of private label tissue to major retailers and wholesale distributors, including grocery, drug, mass merchants, and discount stores. In addition, the company produces bleached paperboard.