"The board's action to increase the authorization for share repurchases demonstrates their confidence in the future earnings and cash generation power of Hillenbrand," said Joe Raver, President and CEO of Hillenbrand. "The increase in authorization allows us to continue to utilize our strong free cash flow to return capital to shareholders beyond the existing dividend program."
Purchases under the program may be made in the open market or in privately negotiated transactions from time to time at management's discretion. The repurchase program may be suspended or discontinued at any time.
Hillenbrand (www.hillenbrand.com) is a global diversified industrial company with multiple market-leading brands that serve a wide variety of industries across the globe. We pursue profitable growth and robust cash generation in order to drive increased value for our shareholders. Hillenbrand's portfolio is composed of two business segments: the Process Equipment Group and Batesville. The Process Equipment Group businesses design, develop, manufacture and service highly engineered industrial equipment around the world. Batesville is a recognized leader in the North American death care industry. Hillenbrand is publicly traded on the NYSE under "HI".
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SOURCE Hillenbrand, Inc.