Update: Rohm and Haas ASR on track

Rohm and Haas Company (NYSE: ROH) today filed SEC form 10Q for the quarter ending September 30, 2007.



In July, Rohm and Haas announced an accelerated share repurchase (ASR) program of $1 billion and a target of 195 million shares outstanding by the end of the third quarter. According to the 10Q filed today, the company spent a net $1.4 billion in the first nine months of 2007 to repurchase 23 million shares net of options exercised. The number of common shares outstanding as of September 30 was 195.8 million, down from 218.8 million at the beginning of the year.

Also according to the 10Q, if the volume-weighted price of the stock for the term of the ASR remains the same as in September, then the counterparty (Goldman Sachs) will owe the company an additional 2.6 million shares.

- Payout Yield Staff


Subscribe to our e-mail newsletter to receive updates.