CEDAR RAPIDS, Iowa--(BUSINESS WIRE)--The Board of Directors of Rockwell Collins (NYSE: COL) recently authorized the company to purchase an additional $500 million of Rockwell Collins common stock. With this announcement, the amount of share repurchases authorized available as of February 7, 2013 was $604 million.
“This additional authorization is expected to meet all share repurchase plans for the balance of fiscal year 2013 and into 2014.”
“This additional authorization demonstrates the Board of Directors continued confidence in our long-term ability to generate cash flow. Consistent with our capital deployment strategy focused on enhancing shareowner value, we expect to maintain an active share repurchase program,” said Patrick Allen, senior vice president and chief financial officer for Rockwell Collins. “This additional authorization is expected to meet all share repurchase plans for the balance of fiscal year 2013 and into 2014.”
The timing and total amount of share repurchases will depend upon market conditions. The repurchases will be made in compliance with, and at such times as permitted by, federal securities law and may be suspended or discontinued at any time.
About Rockwell Collins
Rockwell Collins (NYSE: COL) is a pioneer in the development and deployment of innovative communication and aviation electronic solutions for both commercial and government applications. Our expertise in flight deck avionics, cabin electronics, mission communications, information management, and simulation and training is delivered by 19,000 employees, and a global service and support network that crosses 27 countries. To find out more, please visit www.rockwellcollins.com.