Keuring Dr Pepper Plans $4B Share Buyback Program

Keuring Dr Pepper Inc KDP Board of Directors has authorized a share repurchase program of up to $4 billion of outstanding common stock.
The buyback program is effective for four years, beginning on January 1, 2022, and expiring on December 31, 2025.
The approval represents about 8% of the company's outstanding common stock based on the closing price on September 29, 2021.
The company held $167 million in cash and equivalents as of June 30, 2021.
Price Action: KDP shares are trading lower by 2.37% at $33.35 on the last check Friday.