BOSTON, Nov. 6, 2024
/PRNewswire/ -- PTC (NASDAQ: PTC) today announced that its
Board of Directors has authorized the repurchase of up to
$2 billion worth of PTC common stock
through September 30, 2027.
"This repurchase authorization demonstrates the Board's
confidence in PTC's ability to drive customer value while enhancing
shareholder returns, and supports PTC's capital allocation
strategy," said Janice Chaffin,
Chair of the Board.
"PTC intends to repurchase approximately $300 million of our common stock in fiscal 2025,
beginning in our first quarter, as we balance debt paydown with
returning capital to shareholders. Our long-term goal remains to
return approximately 50% of our free cash flow to shareholders via
share repurchases, while also taking into consideration the
interest rate environment and strategic opportunities," said
Kristian Talvitie, CFO.
PTC expects to make such repurchases through open market
purchases, including under Rule 10b5-1 plans, and may repurchase
shares through other methods as well.
The specific timing and amount of repurchases will depend on a
number of factors, including PTC's free cash flow, general business
and economic conditions, alternative investment opportunities,
PTC's stock price, and other considerations. The repurchase
authorization may be extended, suspended, or discontinued at any
time without prior notice and does not obligate us to repurchase
any particular amount of common stock in any particular period.
About PTC (NASDAQ: PTC)
PTC (NASDAQ: PTC) is a global software company that enables
industrial and manufacturing companies to digitally transform how
they engineer, manufacture, and service the physical products that
the world relies on. Headquartered in Boston, Massachusetts, PTC employs over 7,000
people and supports more than 25,000 customers globally. For more
information, please visit www.ptc.com.
PTC.com @PTC
Blogs
PTC Investor Relations Contact
Matt Shimao
SVP, Investor Relations
mshimao@ptc.com
investor@ptc.com
PTC Media Contact
Greg Payne
gpayne@ptc.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/ptc-announces-2-billion-share-repurchase-authorization-302297960.html
SOURCE PTC Inc.
