Honeywell (HON) approves $10 billion buyback

February 16, 2021 9:00 AM EST

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Honeywell (NYSE: HON) disclosed:

On February 12, 2021, the Board of Directors of Honeywell International Inc. (the “Company”) authorized the Company to repurchase up to $10.0 billion of its common stock, including approximately $2.8 billion of remaining availability under its previously announced $10.0 billion share repurchase authorization. Repurchases may be made through a variety of methods, which could include open market purchases, accelerated share repurchase transactions, negotiated block transactions, 10b5-1 plans, other transactions that may be structured through investment banking institutions or privately negotiated, or a combination of the foregoing. The repurchase authorization does not have an expiration date and may be amended or terminated by the Company’s Board of Directors at any time without prior notice.

The Company presently expects to repurchase outstanding shares from time to time (i) to offset the dilutive impact of employee stock-based compensation plans, including option exercises, restricted unit vesting and matching contributions under our savings plans, and (ii) to reduce share count via share repurchases as and when attractive opportunities arise. The amount and timing of future repurchases may vary depending on market conditions and the level of operating, financing and other investing activities.

The above-described authorization has no impact on the forward-looking share count or share repurchase disclosures contained in the Company’s other public disclosures, including press releases and presentations.

As of January 29, 2021, there were 695,501,159 shares of the Company’s common stock outstanding.

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