Summary
Agilent Technologies, Inc. announced a significant new stock repurchase program on May 28, 2015. The Board of Directors has authorized the purchase of up to $1.14 billion of the Company's common stock, with the program set to conclude on November 1, 2018. This substantial buyback authorization signals management's confidence in the company's value and its commitment to returning capital to shareholders.
Key Highlights
- 1Agilent Technologies announced a new stock repurchase program valued at up to $1.14 billion.
- 2The repurchase program is authorized through November 1, 2018.
- 3The new program can commence on November 1, 2015, or upon completion of the existing $365 million fiscal 2015 repurchase program.
- 4This action indicates management's belief that the company's stock is undervalued.
- 5Shareholders can expect a return of capital through these repurchases.
- 6The announcement was made via a press release filed as an exhibit to the 8-K.
Frequently Asked Questions
The new stock repurchase program authorizes the purchase of up to $1.14 billion of Agilent Technologies' common stock.
The program can commence on either November 1, 2015, or on the date Agilent completes its existing $365 million stock repurchase program in fiscal 2015, whichever comes first.
The 2015 Stock Repurchase Program is authorized through and including November 1, 2018.
A large stock repurchase program typically suggests that management believes the company's stock is undervalued and that returning capital to shareholders is a priority. It can also lead to an increase in earnings per share (EPS) as the number of outstanding shares decreases.