Avnet Expands Share Repurchase Program by $200 Million; Declares Regular Quarterly Dividend
November 10 2017 - 7:00AM
Business Wire
Avnet (NYSE: AVT), a leading global technology distributor,
announced today that its Board of Directors approved an expansion
of the company’s current share repurchase authorization by $200
million. Avnet now has approximately $500 million available for
share repurchases when combined with prior authorizations, and the
latest authorization has no expiration date.
In addition, the Board of Directors declared a regular quarterly
cash dividend of $0.18 per share. The dividend will be paid on
December 19, 2017, to shareholders of record as of the close of
business on December 6, 2017.
“We remain committed to our capital allocation priorities, and
the increase to our share repurchase program combined with our
quarterly dividend will allow us to continue our consistent return
of cash to shareholders,” said William Amelio, Avnet’s Chief
Executive Officer. “Together these programs have returned over $1.7
billion to shareholders over the past six years.”
Avnet plans to repurchase stock from time to time at
the discretion of management in open market or privately negotiated
transactions or otherwise, subject to applicable laws, regulations
and approvals, strategic considerations, market conditions and
other factors. The company may terminate or limit the
stock repurchase program at any time without prior
notice.
About Avnet
From idea to design and from prototype to production, Avnet
supports customers at each stage of a product’s lifecycle. A
comprehensive portfolio of design and supply chain services makes
Avnet the go-to guide for innovators who set the pace for
technological change. For nearly a century, Avnet has helped its
customers and suppliers around the world realize the transformative
possibilities of technology. Learn more about Avnet at www.avnet.com.
Visit the Avnet Investor Relations website at www.ir.avnet.com
or contact us at investorrelations@avnet.com. (AVT_IR)
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171110005100/en/
AvnetInvestor Relations:Vincent Keenan, 480-643-7053Investor
Relationsinvestorrelations@avnet.comorMedia Relations:Maureen
O’Leary, 480-643-7499Corporate
Communicationscorporate.communications@avnet.com
Avnet (NASDAQ:AVT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Avnet (NASDAQ:AVT)
Historical Stock Chart
From Apr 2023 to Apr 2024