HOBOKEN, N.J.--(BUSINESS WIRE)--Newell Brands Inc. (NYSE:NWL) announced today that its Board of Directors has approved an expansion to the company's stock repurchase authorization. Under the expansion, the company is authorized to expend $2.5 billion for repurchase of its outstanding shares through December 31, 2019. This authorization is incremental to the approximately $1.1 billion remaining under its previously announced authorization, which has been amended by the Board, so it now also expires on December 31, 2019. The total share repurchase authorization is now approximately $3.6 billion. Under the program, the company's common shares may be purchased by Newell Brands through a 10b5-1 automatic trading plan, discretionary purchases on the open market, accelerated share repurchase arrangements, in privately negotiated transactions or any combinations thereof. The amount and timing of any purchases will depend on factors including trading price, trading volume and general market conditions.

The company continues to anticipate after-tax proceeds of approximately $10 billion from asset divestitures planned as part of the company’s Accelerated Transformation Plan. Proceeds will be applied to deleveraging and share repurchase.

About Newell Brands

Newell Brands (NYSE: NWL) is a leading global consumer goods company with a strong portfolio of well-known brands, including Paper Mate®, Sharpie®, Dymo®, EXPO®, Parker®, Elmer’s®, Coleman®, Jostens®, Marmot®, Oster®, Sunbeam®, FoodSaver®, Mr. Coffee®, Rubbermaid Commercial Products®, Graco®, Baby Jogger®, NUK®, Calphalon®, Rubbermaid®, Contigo®, First Alert®, and Yankee Candle®. For hundreds of millions of consumers, Newell Brands makes life better every day, where they live, learn, work and play.

This press release and additional information about Newell Brands are available on the company’s website, www.newellbrands.com.