Rockwell Collins Increases Share Repurchase Authorization by $200 Million
08 July 2017 - 6:15AM
Business Wire
The Board of Directors of Rockwell Collins (NYSE: COL) recently
approved the purchase of an additional $200 million of Rockwell
Collins common stock. With this additional authorization, total
share repurchases authorized as of July 7, 2017 is $285
million.
“This additional authorization demonstrates the Board of
Directors’ continued confidence in our ability to generate cash
flow needed to achieve our capital deployment priorities.
Consistent with our near term capital deployment strategy announced
in connection with the B/E Aerospace acquisition, we expect to
maintain a share repurchase program to offset dilution while we
repay a significant portion of acquisition-related debt,” said
Patrick Allen, senior vice president and chief financial officer
for Rockwell Collins. “This additional authorization is expected to
meet our share repurchase plans for the balance of fiscal year 2017
and into 2018.”
The date and time of share repurchases will depend upon market
conditions. All repurchases will be made in compliance with, and at
such times as permitted by, federal securities law and may be
suspended or discontinued at any time.
About Rockwell CollinsRockwell Collins (NYSE: COL) is a
leader in aviation and high-integrity solutions for commercial and
military customers around the world. Every day we help pilots
safely and reliably navigate to the far corners of the earth; keep
warfighters aware and informed in battle; deliver millions of
messages for airlines and airports; and help passengers stay
connected and comfortable throughout their journey. As experts in
flight deck avionics, cabin electronics, cabin interiors,
information management, mission communications, and simulation and
training, we offer a comprehensive portfolio of products and
services that can transform our customers’ futures. To find out
more, please visit www.rockwellcollins.com.
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