MKS Inc. Announces $500M Stock Repurchase Program
Benzinga Newsdesk 9 hours ago
BuybacksNews
The new share repurchase program replaces the prior share repurchase program approved in July 2011, of which approximately $28 million remained available. The repurchase program allows the Company to repurchase up to an
The new share repurchase program replaces the prior share repurchase program approved in July 2011, of which approximately $28 million remained available. The repurchase program allows the Company to repurchase up to an aggregate of $500 million of shares of its common stock from time to time on the open market, in privately negotiated transactions, or by other appropriate means. The repurchase program may be suspended or terminated by the Company’s Board of Directors at any time.
"The repurchase program reinforces our confidence in our strategy, financial position, and long-term cash generation," said John T.C. Lee, President and CEO. "Share repurchases provide us with an opportunity to return capital to shareholders while we continue to invest in organic growth, strengthen the balance sheet and pursue disciplined capital allocation."