Arrow Electronics Announces Additional $400 Million Share Repurchase Program
December 14 2016 - 5:38PM
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 $400 million of common stock through a share repurchase
program. The company has spent approximately $1.4 billion on share
repurchases since the beginning of 2012.
“Arrow’s capital allocation priorities continue to be organic
investments that accelerate our growth, accretive acquisitions that
expand our capabilities and reach, and the return of excess cash to
our shareholders,” said Michael J. Long, chairman, president, and
chief executive officer. “Our company’s growth and the effective
management of our balance sheet enabled the Board of Directors to
maintain our commitment to returning excess cash to
shareholders.”
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 (www.arrow.com) is a global provider of
products, services and solutions to industrial and commercial users
of electronic components and enterprise computing solutions. Arrow
serves as a supply channel partner for more than 100,000 original
equipment manufacturers, contract manufacturers and commercial
customers through a global network of more than 460 locations
serving over 85 countries.
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version on businesswire.com: http://www.businesswire.com/news/home/20161214006277/en/
Arrow Electronics, Inc.Contact:Steven O’Brien,
303-824-4544Director, Investor RelationsorMedia Contact:John
Hourigan, 303-824-4586Vice President, Global Communications
Arrow Electronics (NYSE:ARW)
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