Arrow Electronics Announces Additional $600 Million Share Repurchase Authorization
17 Décembre 2021 - 05:01PM
Business Wire
Arrow Electronics, Inc. (NYSE:ARW) announced today the approval
by the company’s Board of Directors of the repurchase of up to an
additional $600 million of common stock through a share repurchase
program. In the five years from the fourth quarter of 2016 to the
third quarter of 2021, the company repurchased approximately $2
billion worth of shares.
“Our growth, profitability, and the effective management of our
working capital and balance sheet, afford us the ability to return
significant cash to shareholders through share repurchases," said
Michael J. Long, chairman, president, and chief executive officer.
“We have reduced shares outstanding by approximately 21 percent
over the last five years.”
This action will permit the company to continue repurchasing
shares of its common stock as market and business conditions
warrant. The program can be terminated at any time. The company may
enter into Rule 10b5-1 plans to facilitate repurchases under the
program. A Rule 10b5-1 plan would generally permit the company to
repurchase shares at times when it might otherwise be prevented
from doing so under certain securities laws.
Arrow Electronics guides innovation forward for over 180,000
leading technology manufacturers and service providers. With 2020
sales of $29 billion, Arrow develops technology solutions that
improve business and daily life. Learn more at
fiveyearsout.com.
Category: Investor Relations
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version on businesswire.com: https://www.businesswire.com/news/home/20211217005417/en/
Contact: Steven O’Brien Vice President, Investor Relations
303-824-4544
Media Contact: John Hourigan Vice President, Global
Communications 303-824-4586
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