WABCO Holdings Inc. (NYSE: WBC), the leading global supplier of braking control systems and other advanced technologies that improve the safety, efficiency and connectivity of commercial vehicles, today announced that on December 7, 2018 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, 2019 through December 31, 2020, subject to market conditions and applicable regulatory requirements.
As previously disclosed, since June 2011, WABCO repurchased 20,998,402 shares for $1,801.1 million in open market transactions as of September 30, 2018 and expects to repurchase shares up to a total of $300 million during 2018 under its previously authorized share buyback program, subject to market conditions and applicable regulatory requirements.
“Approved by our board of directors, this new share buyback program once again demonstrates our continued commitment to deliver value and builds on our strong track record of returning cash to shareowners,” said Jacques Esculier, WABCO Chairman and Chief Executive Officer.
SOURCE: WABCO
