CEDAR RAPIDS, Iowa--(BUSINESS WIRE)--The Board of Directors of Rockwell Collins (NYSE: COL) recently approved the purchase of an additional $200 million of Rockwell Collins common stock. With this additional authorization, total share repurchases authorized as of July 7, 2017 is $285 million.
“This additional authorization demonstrates the Board of Directors’ continued confidence in our ability to generate cash flow needed to achieve our capital deployment priorities. Consistent with our near term capital deployment strategy announced in connection with the B/E Aerospace acquisition, we expect to maintain a share repurchase program to offset dilution while we repay a significant portion of acquisition-related debt,” said Patrick Allen, senior vice president and chief financial officer for Rockwell Collins. “This additional authorization is expected to meet our share repurchase plans for the balance of fiscal year 2017 and into 2018.”
The date and time of share repurchases will depend upon market conditions. All repurchases will be made in compliance with, and at such times as permitted by, federal securities law and may be suspended or discontinued at any time.
About Rockwell Collins
Rockwell Collins (NYSE: COL) is a leader in aviation and high-integrity solutions for commercial and military customers around the world. Every day we help pilots safely and reliably navigate to the far corners of the earth; keep warfighters aware and informed in battle; deliver millions of messages for airlines and airports; and help passengers stay connected and comfortable throughout their journey. As experts in flight deck avionics, cabin electronics, cabin interiors, information management, mission communications, and simulation and training, we offer a comprehensive portfolio of products and services that can transform our customers’ futures. To find out more, please visit www.rockwellcollins.com.