Tupperware Shares Rise 14% on Debt Repayment, Share Buyback

By Chris Wack

Tupperware Brands Corp. shares were up 14% to $23.24 after the company said it prepaid $58 million of its term-loan debt from Angelo Gordon and JP Morgan, and that its board of directors has authorized share repurchases of up to $250 million of its outstanding shares.

The company attributes the moves to the "ongoing success" of its turnaround plan, which has resulted in an improved liquidity position over the past 18 months.

The timing and amount of any share repurchases under the authorization will be determined by management at its discretion and based on market conditions and other considerations, including compliance with the company's credit agreements.

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(END) Dow Jones Newswires

06-22-21 1036ET