R.J. Reynolds Tobacco Holdings, Inc. Announces Share Repurchase
WINSTON-SALEM, N.C., Nov. 2 /PRNewswire/ -- The board of directors of R.J. Reynolds Tobacco Holdings, Inc. today authorized the repurchase of up to $125 million of the company's outstanding common stock. The repurchase authorization, which goes into effec
``We view this share repurchase as a means of building shareholder value over the long term,'' said Andrew J. Schindler, chairman and chief executive officer of R.J. Reynolds Tobacco Holdings, Inc.
The timing of repurchases and the number of shares ultimately repurchased will depend upon market conditions. Information with respect to repurchases under this program will be included in the company's Form 10-Q and 10-K reports.
R.J. Reynolds Tobacco Holdings, Inc. is the parent company of R.J. Reynolds Tobacco Company. R.J. Reynolds Tobacco Company is the second-largest tobacco company in the United States, manufacturing about one of every four cigarettes sold in the United States. Reynolds Tobacco's product line includes four of the nation's ten best-selling cigarette brands: Winston, Camel, Salem and Doral.