P.M. BRIEFING : Coca-Cola Repurchases Stock
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ATLANTA — Coca-Cola Enterprises Inc. announced today that it has finished one stock buy-back and is starting another.
CCE said it repurchased about 1.5 million shares from public shareholders and the Coca-Cola Co. during the fourth quarter, completing a two-year program to buy back 25 million shares of stock.
“CCE’s ability to make this kind of strategic investment without increasing its debt leverage is a testimony to the strength of our company’s cash flow generation capabilities,” said Brian G. Dyson, president and chief executive officer.
The bottling company, 49% of which is owned by the Coca-Cola Co., said its board also approved a new program to repurchase up to 15 million shares of common stock.
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