Celanese Approves $1 Bln Share Buyback Program

(RTTNews) - Celanese Corporation (CE), a chemical and specialty materials company, Wednesday said its board has approved a new $1.0 billion share repurchase program.

The new share repurchase authorization represents about 6 percent of the company's shares outstanding.

In the first half of 2021, the company deployed $500 million to repurchase shares under the previous $1.5 billion share repurchase authorization put in place in 2019 and increased by $500 million in July 2020.

As of June 30, 2021, about $560 million remained under the existing share repurchase authorization which, combined with this new $1.0 billion authorization, will support future share repurchases.