Emerson Electric (EMR) Announces 60M Share Buyback

Emerson Electric (NYSE: EMR) announced that its Board of Directors has authorized the Company to repurchase 60 million shares of its common stock over the next several years. The authorization is in addition to the 70 million share repurchase authorization approved in November 2015, which is nearly completed and has approximately 7 million shares remaining available. Consistent with the capital allocation plan previously announced, the Company still expects to repurchase approximately $1.5 billion in shares in fiscal 2020, depending on market conditions and other circumstances.

The shares may be repurchased in open market or private transactions and the timing, manner, price and amount of shares to be repurchased will be determined by management, with oversight by the Company’s Finance Committee, based on market conditions and other factors management deems appropriate. There can be no assurances as to the timing, manner, price or amount of any purchases, which may be suspended at any time. Repurchased shares may be used for the Company’s employee benefit plans and other corporate purposes.

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