MILWAUKEE--(BUSINESS WIRE)--The Board of Directors of Rockwell Automation, Inc. (NYSE: ROK) today authorized the company to expend up to an additional $1 billion to repurchase shares of Rockwell Automation common stock. This is in addition to the authorization on Nov. 7, 2007 to repurchase $1 billion worth of common stock, of which approximately $51 million was remaining as of June 7, 2012.
The Board also declared an 11 percent increase in the quarterly dividend to 47 cents per share on common stock, payable on Sept. 10, 2012 to shareowners of record at the close of business on Aug. 13, 2012.
"The $1 billion for common stock repurchases as well as the 11 percent dividend increase reflect our solid financial position and our confidence in Rockwell Automation's sustainable cash generation throughout business cycles. We remain committed to delivering shareowner value by investing in high-return growth opportunities and appropriately returning cash to shareowners," said Keith D. Nosbusch, chairman and chief executive officer.
Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and information, makes its customers more productive and the world more sustainable. Headquartered in Milwaukee, Wis., Rockwell Automation employs over 21,000 people serving customers in more than 80 countries.