Summary
Motorola Solutions, Inc. (MSI) filed an 8-K on July 24, 2013, reporting on its financial results for the quarter ended June 29, 2013, and key capital allocation decisions. The company announced an increase in its share repurchase program authorization by an additional $2.0 billion, bringing the total authorized to $7.0 billion, with approximately $2.5 billion remaining available. This signals management's confidence in the company's financial health and its commitment to returning value to shareholders. Additionally, MSI's Board of Directors approved a significant 19 percent increase in its regular quarterly cash dividend, raising it to $0.31 per share, demonstrating a focus on consistent income generation for investors.
Key Highlights
- 1Announced financial results for the second quarter of 2013 (ended June 29, 2013).
- 2Board of Directors authorized an additional $2.0 billion for share repurchases, increasing the total authorized program to $7.0 billion.
- 3Approximately $2.5 billion remains available under the expanded share repurchase program, with no expiration date.
- 4Increased the regular quarterly cash dividend by 19 percent to $0.31 per share.
- 5The increased dividend is payable on October 15, 2013, to stockholders of record on September 13, 2013.
- 6Management's actions suggest confidence in future financial performance and a commitment to shareholder returns.