Vishay Intertechnology (VSH) Announces $100M Stock Buyback Plan

Vishay Intertechnology, Inc. (NYSE: VSH) announced that its Board of Directors has authorized a $100 million stock repurchase program. The authorization will expire on May 2, 2017.

Marc Zandman, Executive Chairman of the Board and Chief Business Development Officer, commented, “The stock repurchase authorization, along with our recent decision to increase the quarterly dividend, is a further expression of our ability and our commitment to enhance total stockholder return over the long-term.”

Dr. Gerald Paul, President and Chief Executive Officer, remarked, “The announced stock repurchase authorization demonstrates our confidence in our long-term cash flows and strong balance sheet—we are able to continue to invest for our Growth Plan as well as return capital to stockholders.”

Under the program authorized by its Board of Directors, the Company may repurchase shares in open market purchases or through privately negotiated transactions, subject to market and business conditions, legal requirements, and other factors. The Company may enter into Rule 10b5-1 plans to facilitate repurchases. This stock repurchase program does not obligate the Company to acquire any particular amount of common stock, and it may be terminated or suspended at any time at the Company’s discretion.

Vishay expects to fund stock repurchases through cash on hand and borrowings under its revolving credit facility.

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