Wabco Holdings (WBC) Approves $600M Stock Buyback Program
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WABCO Holdings Inc. (NYSE: WBC) announced that on December 2, 2016 its board of directors authorized the company to commence a new two-year share repurchase program.
The board’s new authorization allows for the repurchase of up to $600 million of common shares at the discretion of management from January 1, 2017 through December 31, 2018.
As previously disclosed, since June 2011, WABCO has repurchased 17,686,912 shares for $1,408.5 million in open market transactions as of September 30, 2016. Under its previously authorized share buyback program, WABCO remains allowed to repurchase up to $63.3 million of additional shares through December 31, 2016.
“This new share buyback program approved by our board of directors is further positive news for WABCO shareowners,” said Jacques Esculier, WABCO Chairman and Chief Executive Officer. “It once again shows our continued commitment to deliver value, and in this case by returning cash to shareowners.”
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