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DuPont to buy back up to $4 billion in shares after unit spinoff

[January 27, 2015]  (Reuters) - Chemicals maker DuPont said it expects to buy back shares up to $4 billion using the dividend from the spinoff of its performance chemicals business. 

The company also raised its cost reduction target by $300 million to at least $1.3 billion.

Net income attributable to DuPont rose to $683 million, or 74 cents per share, in the fourth quarter ended Dec. 31, from $185 million, or 20 cents per share, a year earlier.

Net sales fell 5 percent to $7.38 billion.

(Reporting by Swetha Gopinath in Bengaluru; Editing by Sriraj Kalluvila)
 

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