Arrow Electronics, Inc. (NYSE: ARW) has announced the approval by the company´s board of directors of the repurchase of up to an additional USD 600 million of common stock through a share repurchase program, the company said.
The company has repurchased approximately USD 1.1 billion worth of shares since the beginning of 2014.
This action will permit the company to continue repurchasing shares of its common stock as market and business conditions warrant. The program can be terminated at any time. The company may enter into Rule 10b5-1 plans to facilitate repurchases under the program. A Rule 10b5-1 plan would generally permit the company to repurchase shares at times when it might otherwise be prevented from doing so under certain securities laws.
Arrow Electronics guides innovation forward for over 150,000 of the world´s manufacturers of technology used in homes, business and daily life. With 2017 sales of USD 26.6 billion, Arrow aggregates electronics and enterprise computing solutions for customers and suppliers in industrial and commercial markets. The company maintains a network of more than 345 locations serving over 80 countries. Learn more at FiveYearsOut.com.