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By using the cash to retire debt, management could bolster annual earnings growth from about 5 or 10percentto15percentcent.
The lawmakers also borrowed $4.2 billion against future payments from tobacco companies, using the cash to avoid many politically difficult decisions about cuts.
It has been aggressive in using the cash to make acquisitions, most recently Fletcher Challenge Energy of New Zealand for $1.67 billion.
British American executives were asked particularly about their decision to buy the Italian company at a premium, rather than using the cash to buy back shares.
You'll give shareholders a chance to earn better returns elsewhere and prevent management from using the cash to make misguided value-destroying investments.
"I shall be using the cash to start a T-shirt fund for the 'We all shot Pudsey Bear Facebookk group.
Similar(21)
GUS will use the cash to pay down debt.
He used the cash to pay civil servants.
Chesapeake could use the cash to reduce long-term debt.
G.M. is planning to use the cash to reduce its debt and strengthen its balance sheet.
Lloyds is expected to use the cash to underwrite loans it is running down in Ireland, the Netherlands and Spain.
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