ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Today, Jabil Inc. (NYSE:JBL), announced that its Board of Directors has authorized a share repurchase program of up to $450 million worth of shares of the Company’s common stock. This share repurchase program expires on August 31, 2018. The shares will be repurchased from time-to-time through various methods, including in the open market at the Company's discretion and subject to market conditions and other factors.
Today’s announcement represents the second portion of the previously announced two-year capital return framework designed to return approximately 40 percent of cash flow from operations to shareholders, not to exceed $1 billion, through dividends and share repurchases. The Company's initial $400 million repurchase authorization as part of this framework is anticipated to be completed by August 31, 2017.
Jabil (NYSE: JBL) is a product solutions company providing comprehensive electronics design, production and product management services. Offering complete product supply chain management from facilities in 28 countries, Jabil provides comprehensive, individualized-focused solutions to customers in a broad range of industries. Further information is available on Jabil’s website: jabil.com.