Visteon Announces $300 Million Share Repurchase Authorization
08 March 2023 - 12:30AM
Visteon Corporation (Nasdaq: VC) today announced that its board of
directors has authorized a share repurchase program of $300 million
of common stock expiring December 31, 2026. Visteon expects to fund
the repurchases through excess cash on hand and future cash flow
generation.
“We are pleased to announce this new share repurchase program,
further underscoring our commitment to driving value for our
shareholders,” said Sachin Lawande, Visteon president and CEO.
“This authorization demonstrates our board’s confidence in
Visteon’s strategic growth plan as we deliver digital,
software-defined, and electric product solutions that align with
key trends in the industry.”
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 VisteonVisteon is a global technology
company serving the mobility industry, dedicated to creating a more
enjoyable, connected and safe driving experience. The company’s
platforms leverage proven, scalable hardware and software solutions
that enable the digital, electric, and autonomous evolution of our
global automotive customers. Visteon products align with key
industry trends and include digital instrument clusters, displays,
Android-based infotainment systems, domain controllers, advanced
driver assistance systems and electrification. The company,
headquartered in Van Buren Township, Michigan, recorded
approximately $3.76 billion in annual sales and booked $6 billion
of new business in 2022. Learn more
at https://investors.visteon.com/.
Visteon Contacts
Media: Media@Visteon.com
Investors: Kris Doyle 201-247-3050; kdoyle@Visteon.com
Visteon (NASDAQ:VC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Visteon (NASDAQ:VC)
Historical Stock Chart
From Jul 2023 to Jul 2024