US: DuPont plans US$2B share buyback

DuPont stated on Tuesday, May 21, that it plans to announce a US$2 billion share repurchase program after its separation from DowDupont on June 1.

DowDuPont, formed in 2017 by the US$130 billion merger of chemical giants Dow Chemical and DuPont, is now in the process of splitting into three separate business units, Dow, DuPont, and Corteva Agriscience.

Dow, which makes chemicals used in cosmetics, paints and packaging, was spun off on April 1. Corteva is set to be separated on June 1. The company produces corn, soybean, cotton, and sunflower seeds as well as insecticides and herbicides.