The board of directors of Whirlpool Corporation has authorized an additional $2 billion share repurchase program. The new authorization is in addition to the $531 million unused portion of the previous program as of December 31, 2020.
The Company’s board of directors also approved a $0.15 increase in the quarterly dividend on the Company’s common stock to $1.40 per share from $1.25 per share. The dividend is payable June 15, 2021, to stockholders of record at the close of business on May 21, 2021.
“I am pleased to announce that we are increasing our dividend for the ninth consecutive year and have approved a significant expansion of our share repurchase program,” said Marc Bitzer, chairman and chief executive officer of Whirlpool Corporation. “These actions highlight the confidence we have in our business to continue generating strong levels of cash and reflect our continued commitment to creating strong shareholder value.”
About Whirlpool Corporation
Whirlpool Corporation is the world’s leading kitchen and laundry appliance company, with approximately $19 billion in annual sales, 78,000 employees and 57 manufacturing and technology research centers in 2020. The company markets Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, Indesit and other major brand names in nearly every country throughout the world. Additional information about the company can be found at WhirlpoolCorp.com, or find us on Twitter at @WhirlpoolCorp.
We routinely post important information for investors on our website, whirlpoolcorp.com, in the “Investors” section. We also intend to update the Hot Topics Q&A portion of this webpage as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our webpage is not incorporated by reference into, and is not a part of, this document.
Whirlpool Corporation Additional Information
This document contains forward-looking statements regarding shareholder value creation. Actual events or results may differ materially from those statements as a result of many factors, including the company’s ability to execute on its short-term and long-term plans. For information about the factors that could cause such differences, please refer to our Annual Report on Form 10-K for the year ended December 31, 2020, including the information set forth under the caption “Risk Factors.”