DuPont announces $2 billion share buyback program

The conglomerate is in the midst of a spin off which will see the creation of 3 separate companies – Dow Inc, Corteva and DuPont.

In a statement DuPont said, it plans to announce a $2 billion share repurchase program on June 1, 2019.

The development comes in the wake of DuPont’s separation from DowDupont.

In 2017, in a $130 billion deal DowDuPont merged with chemical giants Dow Chemical and DuPont. The company is now in the process of splitting into three separate business units – Dow, DuPont and Corteva Agriscience.

On April 1, 2019, Dow Inc, which makes chemicals used in cosmetics, paints and packaging, was spun off.

Corteva is set to be spun off June 1. It produces corn, soybean, cotton sunflower seeds as well as insecticides and herbicides.

DuPont, which makes chemicals used in semiconductors, brake fluids and lubricants, plans to grow full-year organic revenue by 2% to 3% and adjusted operating core earnings by 3% to 5% as a separate entity.

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