VAN BUREN TOWNSHIP, Mich.,
Jan. 16, 2018 /PRNewswire/ -- Visteon
Corporation (Nasdaq: VC) today announced that its board of
directors has authorized an additional share repurchase program of
up to $500 million of common stock to
be executed through 2020, reflecting the company's strong balance
sheet and free cash flow generation. Visteon expects to fund the
repurchases through free cash flow generation. This authorization
is in addition to the $400 million
authorized by the board of directors in January 2017, of which $200 million has been completed by Dec. 31, 2017, and the remainder is expected to
be executed by the end of March 2018.
"We are pleased to continue to drive shareholder value through
additional share repurchases," said Sachin
Lawande, Visteon president and CEO. "This new authorization
increases the total return to shareholders through share buybacks
and special distributions to over $4
billion since 2012. We are confident in Visteon's ability to
generate value as we transform the company to be the technology
leader in cockpit electronics while capitalizing on the potential
of autonomous driving."
Shares may be repurchased from time to time in open market
transactions or in privately negotiated transactions depending on
market and economic conditions, share price, trading volume,
alternative uses of capital and other factors. Such purchases will
be made in accordance with applicable U.S. securities laws and
regulations.
About Visteon
Visteon is a global technology company that designs, engineers
and manufactures innovative cockpit electronics products and
connected car solutions for most of the world's major vehicle
manufacturers. Visteon is a leading provider of instrument
clusters, head-up displays, information displays, infotainment,
audio systems, SmartCore™ cockpit domain controllers, and vehicle
connectivity. Visteon also supplies embedded multimedia and
smartphone connectivity software solutions to the global automotive
industry. Headquartered in Van Buren
Township, Michigan, Visteon has approximately 10,000
employees at more than 40 facilities in 18 countries. Visteon had
sales of $3.16 billion in 2016. Learn
more at www.visteon.com.
Follow Visteon:
www.twitter.com/visteon
www.youtube.com/visteon
http://blog.visteon.com
www.linkedin.com/company/visteon
www.google.com/+visteon
https://www.facebook.com/VisteonCorporation
https://www.instagram.com/visteon
http://www.slideshare.net/VisteonCorporation
http://i.youku.com/u/UNDgyMjA1NjUxNg==?spm=a2h0k.8191407.0.0
View original content with
multimedia:http://www.prnewswire.com/news-releases/visteon-announces-new-500-million-share-repurchase-authorization-300582776.html
SOURCE Visteon Corporation