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WD-40 Company Announces New $75.0 Million Share Repurchase Plan

Published: 2021-10-13 20:05:00 ET

SAN DIEGO, Oct. 13, 2021 /PRNewswire/ -- WD-40 Company (NASDAQ:WDFC) today announced that its board of directors approved a new share repurchase plan. Under the new plan, which will become effective on November 1, 2021, the Company is authorized to acquire up to $75.0 million of its outstanding shares through August 31, 2023. The timing and amount of repurchases will be based on terms and conditions acceptable to the Company and in compliance with all laws and applicable regulations.

"Today I am happy to share with you that our board of directors approved a new share repurchase plan," said Jay Rembolt, vice president and chief financial officer of WD-40 Company. "When the pandemic began, we elected to suspend stock repurchases under our previous share repurchase plan in order to conserve our cash while we monitored the long-term impacts of the pandemic. The newly authorized share repurchase plan reflects our confidence in our long-term growth outlook, commitment to our capital allocation strategy, and capacity to return capital to our stockholders."

About WD-40 CompanyWD-40 Company is a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories, and homes around the world. The Company markets a wide range of maintenance products and homecare and cleaning products under the following well-known brands: WD-40®, 3-IN-ONE®, GT85®, X-14®, 2000 Flushes®, Carpet Fresh®, no vac®, Spot Shot®, 1001®, Lava® and Solvol®.

Headquartered in San Diego, WD-40 Company recorded net sales of $408.5 million in fiscal year 2020 and its products are currently available in more than 176 countries and territories worldwide. WD-40 Company is traded on the NASDAQ Global Select market under the ticker symbol "WDFC." For additional information about WD-40 Company please visit http://www.wd40company.com.

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SOURCE WD-40 Company

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.