Green Plains announces share repurchase program, doubles dividend

By Green Plains Inc. | August 15, 2014

Green Plains Inc. has announced that its board of directors has approved a share repurchase program of up to $100 million of the company's shares of common stock effective immediately. Under the share repurchase program, Green Plains may repurchase shares from time to time in open market transactions, privately negotiated transactions, accelerated share buyback programs, tender offers or by other means.

The timing and amount of repurchase transactions will be determined by the company's management based on its evaluation of market conditions, share price, legal requirements and other factors. The program may be suspended, modified or discontinued at any time without prior notice.

The board of directors also declared a quarterly cash dividend of 8 cents per share on the company's common stock. The cash dividend announced represents a 100 percent increase from the previous quarterly cash dividend. The dividend will be payable on Sept. 18 to shareholders ofrecord as of the close of business Aug. 28.

"The strong financial performance we have achieved allows us to enhance our capital allocation strategy with a share repurchase program and an increased dividend for our shareholders," said Todd Becker, president and CEO. "We will also remain focused on growing long-term shareholder value through acquisitions and organic growth opportunities."