Monster Beverage Board Authorizes New $500.0 Million Share Repurchase Program
08 Noviembre 2023 - 3:10PM
Monster Beverage Corporation (NASDAQ:MNST) today announced that its
Board of Directors has authorized a new share repurchase program
for the repurchase of up to an additional $500.0 million of the
Company’s outstanding common stock. As of November 7, 2023,
approximately $282.8 million remained available for repurchase
under the Company’s previously authorized repurchase program. The
Company expects to make the share repurchases from time to time in
the open market, through privately-negotiated transactions, by
block-purchase or through other transactions managed by
broker-dealers, or otherwise, subject to applicable laws,
regulations and approvals. The timing of the share repurchases will
depend on a variety of factors, including market conditions, and
the share repurchases may be suspended or discontinued at any time.
Monster Beverage CorporationBased
in Corona, California, Monster Beverage Corporation is a holding
company and conducts no operating business except through its
consolidated subsidiaries. The Company’s subsidiaries develop and
market energy drinks, including Monster Energy® drinks, Monster
Energy Ultra® energy drinks, Juice Monster® Energy + Juice energy
drinks, Java Monster® non-carbonated coffee + energy drinks, Rehab®
Monster® non-carbonated energy drinks, Monster Hydro®
non-carbonated refreshment + energy drinks, Monster Energy® Nitro
energy drinks, Reign® Total Body Fuel high performance energy
drinks, Reign Inferno® thermogenic fuel high performance energy
drinks, Reign Storm™ total wellness energy drinks, NOS® energy
drinks, Full Throttle® energy drinks, Bang Energy® drinks, BPM®
energy drinks, BU® energy drinks, Burn® energy drinks, Gladiator®
energy drinks, Live+® energy drinks, Mother® energy drinks, Nalu®
energy drinks, Play® and Power Play® (stylized) energy drinks,
Relentless® energy drinks, Samurai® energy drinks, Ultra Energy®
drinks, Predator® energy drinks and Fury® energy drinks. The
Company’s subsidiaries also develop and market still and sparkling
waters under the Monster Tour Water® brand name. The Company’s
subsidiaries also develop and market craft beers, hard seltzers and
flavored malt beverages under a number of brands, including Jai
Alai® IPA, Dale’s Pale Ale®, Dallas Blonde®, Wild Basin® hard
seltzers and The Beast Unleashed™. For more information visit
www.monsterbevcorp.com.
Caution Concerning Forward-Looking
Statements
Certain statements made in this announcement may constitute
“forward-looking statements” within the meaning of the U.S. federal
securities laws, as amended, regarding the expectations of
management with respect to our future operating results and other
future events including revenues and profitability. The Company
cautions that these statements are based on management’s current
knowledge and expectations and are subject to certain risks and
uncertainties, many of which are outside of the control of the
Company, that could cause actual results and events to differ
materially from the statements made herein. Such risks and
uncertainties include, but are not limited to, our ability to
implement the share repurchase programs. For a more detailed
discussion of these and other risks that could affect our operating
results, see the Company’s reports filed with the Securities and
Exchange Commission, including our annual report on Form 10-K for
the year ended December 31, 2022 and our subsequently filed
quarterly reports. The Company’s actual results could differ
materially from those contained in the forward-looking statements,
including with respect to the share repurchase programs. The
Company assumes no obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise.
CONTACTS: |
Rodney C.
Sacks |
|
Chairman and Co-Chief Executive Officer |
|
(951) 739-6200 |
|
|
|
Hilton H. Schlosberg |
|
Vice Chairman and Co-Chief Executive Officer |
|
(951) 739-6200 |
|
|
|
Roger S. Pondel / Judy Lin |
|
PondelWilkinson Inc. |
|
(310) 279-5980 |
Monster Beverage (NASDAQ:MNST)
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