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LOUISVILLE, Ky., February 24, 2022--(BUSINESS WIRE)--Headline of release should read: Turning Point Brands Increases Share Repurchase Authorization (instead of Turning Point Brands Increases Common Stock Dividend)
The updated release reads:
TURNING POINT BRANDS INCREASES SHARE REPURCHASE AUTHORIZATION
The Board of Directors of Turning Point Brands, Inc. ("TPB") (NYSE: TPB), a manufacturer, marketer and distributor of branded consumer products including alternative smoking accessories and consumables with active ingredients, increased the Company’s share repurchase authorization by $24.6 million to an aggregate amount of $50.0 million, including approximately $25.4 million available for repurchases under the Board’s previous authorization approved on October 25, 2021.
The repurchase authorization permits shares to be repurchased in open market or private transactions, through block trades, and pursuant to any trading plan or other arrangements. The timing, manner, price and amount of any repurchases will be determined by the Company’s management in its discretion and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors. The repurchase authorization does not obligate the Company to purchase any specific number of shares and may be suspended or discontinued at any time.
About Turning Point Brands, Inc.
Turning Point Brands (NYSE: TPB) is a manufacturer, marketer and distributor of branded consumer products including alternative smoking accessories and consumables with active ingredients through its iconic Zig-Zag® and Stoker’s® brands, and its emerging brands within the NewGen segment. TPB’s products are available in more than 210,000 retail outlets in North America, and on sites such as www.zigzag.com, www.nu-x.com and www.solacevapor.com. For the latest news and information about TPB and its brands, please visit www.turningpointbrands.com.
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Louie Reformina, Senior Vice President, CFO
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