Knowles Corporation (NYSE: KN), a market leader and global provider of advanced micro-acoustic, audio processing, and precision device solutions, has announced that its board of directors has authorized a share repurchase program of up to USD 100 million in aggregate value of the company´s outstanding common stock, the company said.
The timing and amount of any shares repurchased will be determined by the company based on its evaluation of market conditions and other factors, and will be made in accordance with applicable securities laws in either the open market or in privately negotiated transactions. The company is not obligated to purchase any shares under the program, and the program may be suspended or discontinued at any time.
The actual timing, number and share price of shares repurchased will depend on a number of factors, including the market price of the company´s stock, general market and economic conditions and applicable legal requirements. The repurchase program is expected to be funded by cash on hand and future cash generated from operations.
Knowles is a market leader and global provider of advanced micro-acoustic, audio processing, and precision device solutions, serving the mobile consumer electronics, communications, medtech, defense, automotive, and industrial markets. For more information, visit knowles.com.