Item 8.01 Other Events.
On March 8, 2022, the Board of Directors of Pilgrim's Pride Corporation (the
"Company") approved a $200 million share repurchase plan given continued
confidence in the growth potential of the business and its strong balance sheet
position. The Company intends to implement its stock repurchase plan through
various means, which may include but are not limited to open market purchases,
privately negotiated transactions, the use of derivative instruments and/or
accelerated share repurchase plans. The extent to which the Company repurchases
its shares and the timing of such repurchases will vary and depend upon market
conditions and other corporate considerations, as determined by the Company's
management team. The Company reserves the right to limit or terminate the
repurchase plan without notice.
Forward-Looking Statements
This Form 8-K contains forward-looking statements within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. All statements, other than statements of historical facts, may be
forward-looking statements. Words such as "subject," "reflect," "may," "will,"
"expects," "believes" and similar expressions are used to identify these
forward-looking statements. These forward-looking statements involve significant
risks and uncertainties that could cause actual results to differ materially
from expected results. Factors that could cause actual results to differ
materially from those projected in such forward-looking statements include
future developments related to the matters discussed herein, and other factors
discussed in the risk factors sections of Pilgrim's Quarterly Reports on Form
10-Q and Annual Reports on Form 10-K on file with the Securities and Exchange
Commission. The forward-looking statements speak only as of the date hereof, and
Pilgrim's undertakes no obligation to update any such statement, whether as a
result of new information, future developments or otherwise, except as may be
required by applicable law.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses