Hexcel Declares Quarterly Dividend.
By Business Wire News
Hexcel Corporation (NYSE:HXL)(Paris:HXL), today announced that the Company’s Board of Directors has declared a regular quarterly cash dividend of $0.10 per share on the common stock of Hexcel, payable on November 16, 2015 to shareholders of record as of November 2, 2015.
During the third quarter, the Company repurchased more than 2 million shares for $100 million and completed the remaining share repurchases authorized in June 2014. Today, the Company’s Board of Directors authorized the repurchase of an additional $250 million of the Company’s stock. Under the program, the Company may purchase its common stock from time to time in the open market or in privately negotiated transactions. The repurchases will be funded from cash from operating activities and, if needed, the existing credit facilities. The amount and timing of the purchases will depend on a number of factors including the price and availability of shares of common stock, trading volume and general market conditions.
Hexcel Corporation is a leading advanced composites company. It develops, manufactures and markets lightweight, high-performance structural materials, including carbon fibers, reinforcements, prepregs, honeycomb, matrix systems, adhesives and composite structures, used in commercial aerospace, space and defense and industrial applications such as wind turbine blades.
Michael Bacal, 203-352-6826