RFP - Resolute announces $100M buyback program

Resolute Forest Products (NYSE:RFP) has authorized the repurchase of up to $100M or 10 M of the company's common shares. The transactions will be funded using the company's sources of liquidity. "Today's announcement follows recent completion of the share repurchase program announced in March 2020, under which we repurchased 11.5 million shares for $78.3 million, representing 15% of the outstanding shares," said Remi G. Lalonde, president and chief executive officer. "This new program will allow us to continue to act opportunistically to return capital to shareholders when conditions are right. We remain committed to a balanced approach to capital allocation, using our free cash flow to generate value for shareholders, build a stronger company and drive sustainable economic activity in the communities where we operate."

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Resolute announces $100M buyback program