Bruker (BRKR) Announces $225M Buyback Plan, Declares $0.04 Quarterly Dividend

Bruker (NASDAQ: BRKR) announced that its Board of Directors has approved a new share repurchase program authorizing the purchase of up to $225 million of the Company's common stock over a two-year period commencing May 12, 2017.

Under this program, the Company may repurchase its common stock from time to time, in amounts, at prices, and at such times as the Company deems appropriate, subject to market conditions, legal requirements and other considerations. The Company's repurchases may be executed using open market purchases, privately negotiated purchases or other transactions during the period from May 12, 2017 to May 11, 2019.

The Company intends to fund repurchases under this share repurchase program from cash on hand and available borrowings under its existing credit facility. The share repurchase program does not obligate the Company to repurchase any specific number of shares, and may be suspended, modified or terminated at any time without prior notice.

"With our strong balance sheet, ongoing margin expansion and cash flow generation progress, we are continuing our share repurchases with the approval of a new $225 million, two-year program," said Tony Mattacchione, Bruker's Senior Vice President and Chief Financial Officer. "We are confident in our ability to fund our organic growth initiatives and further portfolio transformation, while staying committed to disciplined capital deployment and to adding value to both Bruker and its shareholders."

The company also declared a quarterly dividend of $0.04 per share, or $0.16 annualized. The dividend will be payable on June 23, 2017, to stockholders of record on June 5, 2017, with an ex-dividend date of June 1, 2017. The annual yield on the dividend is 0.6 percent.

For a dividend history and other dividend-related data on Bruker (BRKR) click here.

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