Seaboard Corp. is announcing that its board of directors approved a share repurchase program authorizing the company to repurchase up to $100 million of its outstanding shares of common stock through Dec. 31, 2027, unless extended or earlier terminated by the board. Under the repurchase program, the company is authorized to repurchase shares from time to time in the open-market, through block trades, in privately negotiated purchases, pursuant to a trading plan separately adopted in the future or by other means, in accordance with federal securities laws and other applicable laws.

The repurchase program does not obligate the company to acquire a minimum amount of shares, and the repurchase program may be modified, suspended or terminated at any time at the company's discretion. The company cannot predict when or if it will repurchase any shares or the amount of any such repurchases, as the repurchases will be determined by management at its discretion and will depend on a number of factors, including constraints specified in any applicable trading plans, the market price of the shares, general business and market conditions, alternative investment opportunities, the company's financial conditions and applicable legal requirements. Any shares repurchased will be retired and shall resume the status of authorized and unissued shares. Information regarding share repurchases will be available in the company's periodic reports on Form 10-Q and Form 10-K filed with the Securities and Exchange Commission as required by the applicable rules of the Securities Exchange Act of 1934, as amended.

Source: Seaboard Corp.