Hershey: buys back common stock from Hershey Trust

Hershey / PA. (thc) The Hershey Company announced that it has agreed to purchase 450,000 shares of its common stock from Hershey Trust Company, as Trustee for the Milton Hershey School Trust, for approximately USD 48 million, or USD 106.30 per share. «Hershey regularly buys back shares as part of its stock replenishment program,» said Michele Buck, President and Chief Executive Officer, The Hershey Company. «Today’s transaction is consistent with that practice. The company continues to have flexibility to invest in our brands and in the capabilities that give us a competitive edge at retail and with consumers.»