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Campbell Announces $1 Billion Share Repurchase Program

^{Published on 2011-06-23 13:40:33 - Market Wire}
 

CAMDEN, N.J.--([ BUSINESS WIRE ])--Campbell Soup Company (NYSE:CPB) today announced that its Board of Directors has authorized a new share repurchase program. Under the new program, Campbell is authorized to purchase up to $1 billion of its outstanding shares in open market and privately negotiated transactions. The program has no expiration date.

The new share repurchase program replaces the June 2008 authorization of $1.2 billion, which has been completed. The new program is in addition to Campbella™s practice of buying back shares sufficient to offset those issued under incentive compensation plans.

About Campbell Soup Company

Campbell Soup Company is a global manufacturer and marketer of high-quality foods and simple meals, including soup and sauces, baked snacks and healthy beverages. Founded in 1869, the company has a portfolio of market-leading brands, including aCampbella™s,a aPepperidge Farm,a aArnotta™sa and aV8.a Through its corporate social responsibility program, the company strives to make a positive impact in the workplace, in the marketplace and in the communities in which it operates. Campbell is a member of the Standard & Poor's 500 and the Dow Jones Sustainability Indexes. For more information, visit [ www.campbellsoup.com ].

Forward-Looking Statements

This release contains aforward-looking statementsa that reflect the companya™s current expectations about its future plans and performance, including share repurchases, on cash flows and earnings. These forward-looking statements rely on a number of assumptions and estimates that could be inaccurate and which are subject to risks and uncertainties. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the company. Please refer to the companya™s most recent Form 10-K and subsequent filings for a further discussion of these risks and uncertainties. The company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.