Connect with us

Manufacturing

ITW Board Of Directors Authorize New $6 Billion Share Repurchase Program

The full authorization represents approximately 81 million shares based on ITW’s closing share price on Aug. 1.

Advertisement

GLENVIEW, Ill. – The board of directors for Illinois Tool Works Inc. has approved a new share repurchase program that authorizes management to buy back up to $6 billion of the company’s common stock over an open-ended period of time. The full authorization represents approximately 81 million shares based on ITW’s closing share price on Aug. 1.
 
The company’s existing share repurchase authorization of $4 billion was announced in May 2011 and has approximately $1.2 billion remaining in that program as of June 30.
 
"As part of our enterprise strategy, the company is strongly committed to capital allocation priorities that emphasize both organic investments as well as the return of free operating cash flow to investors," said E. Scott Santi, president and CEO. "We will continue to focus on a strong dividend and external investments such as share repurchases and selective acquisitions."
 

Advertisement
Click Here to Read More
Advertisement

Advertisement

POPULAR POSTS

Sponsored Content

Why Trucks Are The Future Of The Aftermarket Sweet Spot

Sponsored Content

How to Talk to Customers About Aftermarket Spark Plugs

Sponsored Content

4 Mistakes Even a Pro Can Make When Installing a Water Pump

Sponsored Content

5 Reasons to Upgrade Your Spark Plugs

Connect