Goodrich ups repurchase plan by $500M
Published: February 15, 2011
Time posted: 1:42 pm
Tags: Goodrich Corp.
Goodrich Corp.’s board of directors today approved increasing the company’s share-repurchase plan by $500 million, bringing the total authorization to $1.1 billion.
From November 2006 through last month, the company repurchased 8.9 million shares, for a total of $537 million.
The primary purpose of the plan is to offset dilution to shareholders from the company’s stock-based compensation plans, the company said.
As of Jan. 31, the Charlotte-based company had 125.6 million shares outstanding.