Rockwell Collins Increases Share Repurchase Authorization by $200 Million

12 Jul

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.