IDEX Corporation Announces Additional Share Repurchase Authorization
December 01 2015 - 4:59PM
Business Wire
IDEX CORPORATION (NYSE: IEX) today announced its Board of
Directors has approved an additional share repurchase authorization
of up to $300 million of IDEX’s outstanding common shares.
Chairman and Chief Executive Officer Andrew Silvernail stated,
“The share repurchase authorization is consistent with our
intention of deploying capital in a manner that benefits our
shareholders. We have reviewed our capital requirements over the
planning horizon and have the capability to deploy in excess of $1
billion for acquisitions and organic growth initiatives while
maintaining strong capital adequacy. IDEX continues to generate
very strong free cash and we believe that repurchasing IDEX stock
is a prudent use of our strong cash flow and balance sheet that,
coupled with organic investments and new acquisitions, will
continue to maximize our shareholders return.”
These repurchases will be made from time to time in either open
market transactions or in privately negotiated transactions.
Repurchases may also be made under 10b5-1 plans, which would permit
shares to be repurchased through pre–determined criteria when the
Company would otherwise be prohibited from doing so under insider
trading laws. The timing, volume and nature of share repurchases
will be at the discretion of management, dependent on market
conditions, other priorities of cash investment, applicable
securities laws and other factors. This share repurchase program
does not obligate the Company to acquire any particular amount of
common stock, and it may be suspended or discontinued at any
time.
About IDEX
IDEX Corporation is an applied solutions company specializing in
fluid and metering technologies, health and science technologies,
and fire, safety and other diversified products built to its
customers’ exacting specifications. Its products are sold in niche
markets to a wide range of industries throughout the world. IDEX
shares are traded on the New York Stock Exchange and Chicago Stock
Exchange under the symbol “IEX”.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151201006804/en/
IDEX CorporationHeath MittsSenior Vice President–Chief Financial
Officer847.498.7070
IDEX (NYSE:IEX)
Historical Stock Chart
From Mar 2024 to Apr 2024
IDEX (NYSE:IEX)
Historical Stock Chart
From Apr 2023 to Apr 2024