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 January 15, 2018, to repurchase $1 billion worth of common stock, of which approximately $245 million was remaining as of September 5, 2018.
“Our Connected Enterprise strategy generates strong, sustainable cash flow,” said Blake D. Moret, Rockwell Automation chairman, and CEO. “This enables us to balance business reinvestment and strategic acquisitions with a return of cash to shareowners. In the last five fiscal years, we returned over $4 billion, or 87 percent of free cash flow, to shareowners through dividends and share repurchases. We have a long record of returning excess cash to shareowners, and we remain committed to it.”
Rockwell Automation, Inc. (NYSE: ROK) is the world’s largest company focused on industrial automation and information, dedicated to making our customers more productive and the world more sustainable. Headquartered in Milwaukee, Wis., Rockwell Automation employs approximately 22,000 people serving customers in more than 80 countries.