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Clorox board approves $750M stock buyback plan

By Associated Press
May 14, 2008 | Comments (0)

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Consumer products maker Clorox Co. said its board authorized the repurchase of up to $750 million in stock.

Clorox said late Tuesday the authorization is in addition to an evergreen repurchase program it previously announced to reduce or eliminate dilution in connection with stock issuances under incentive plans.

The company said it may buy stock from time to time, depending on market conditions.

Clorox has about 140.3 million shares outstanding.

The company's stock closed Tuesday at $56.43 and has traded between $52.85 and $68.09 over the past 52 weeks.

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