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 June 4, 2014 to repurchase $1 billion worth of common stock, of which approximately $197 million was remaining as of April 5, 2016.
The Board also declared a quarterly dividend of 72.5 cents per share on its common stock, payable on June 10, 2016 to shareowners of record at the close of business on May 16, 2016.
“In the prior six fiscal years, we have returned more than $3.7 billion, or 84 percent of free cash flow, to shareowners through dividends and share repurchases,” said Keith D. Nosbusch, chairman and chief executive officer. “Our solid financial position and sustainable cash generation enable us to continue our strong track record of returning cash to shareowners while investing in the business and pursuing strategic acquisitions.”
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 22,000 people serving customers in more than 80 countries.