Bath & Body Works Inc

:LB   12:07:50 PM EDT
+0.43 (+0.65%)
Share Repurchases, Other Pre-Announcement

L Brands Says Board Authorized New $500 Mln Share Repurchase Plan

Published: 03/12/2021 12:44 GMT
(LB) - Board of Directors Has Authorized New $500 Million Share Repurchase Plan.
Authorized Repayment of $1.035 Billion of Debt Through a Call of All $285 Million of Outstanding Bonds Due February 15, 2022.
Increasing Q1 Earnings Guidance From a Range of $0.35 to $0.45 to a Range of $0.55 to $0.65.
New Share Repurchase Plan Replaces Remaining $79 Million Under Previously Authorized Program.
Authorized Repayment of $1.035 Billion of Debt.
Reinstatement of Co's Annual Dividend at $0.60 per Share, Beginning With Quarterly Dividend to Be Paid in June 2021.
Anticipates Using $1.1 Billion in Cash to Complete Debt Repayment.
Have Raised Earnings Guidance for Q1 Due to Strong Sales and Margin Results Quarter-to-date.
Q1 Earnings per Share View $0.43 -- Refinitiv Ibes Data (analyst estimates).