Eastman Approves Share Repurchase

Lorraine: Funding growth initiatives. Eastman Chemical says that its board has approved the repurchase of up to $700 million of common stock, bringing the total repurchases authorized in 2007 to $1 billion. Eastman will fund the program with available cash. “The completion of our $300-million share repurchase program and the authorization of an additional $700 million of share repurchases reflect both our strong financial profile and our confidence in future cash flows, while also preserving financial flexibility as we continue to fund profitable growth...

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