Vontier Announces $100 Million Accelerated Share Repurchase Program
2024年8月5日 - 9:00PM
ビジネスワイヤ(英語)
Vontier Corporation (NYSE: VNT), a leading global provider of
critical technologies and solutions to connect, manage and scale
the mobility ecosystem, today announced that it has entered into an
accelerated share repurchase agreement (“ASR”) with Goldman Sachs,
to repurchase $100 million of Vontier’s common stock.
"The decision to launch this accelerated share repurchase
program underscores our belief in the long-term strategic vision
and value creation potential of our company,” said Mark Morelli,
President and Chief Executive Officer. “Our portfolio is
well-aligned in attractive end markets with strong secular
tailwinds, and we deliver differentiated value propositions that
enable customer success. We are committed to unlocking shareholder
value through maximizing returns on capital deployment while
balancing investments to accelerate profitable growth as we
transform the mobility ecosystem.”
The ASR transactions will be completed as part of Vontier’s
existing $500 million share repurchase authorization which was
announced in May 2021 and replenished in May 2022, and had
approximately $290 million remaining as of August 1, 2024. The
final number of shares to be repurchased will be based on the daily
volume-weighted average price of Vontier’s common stock during the
term of the ASR, less a discount and subject to adjustments
pursuant to the terms of the ASR. Vontier expects to fund the
repurchases with available cash on-hand and expects the ASR
transactions will be settled during the third quarter of 2024.
Subject to completion of this ASR, Vontier is expected to have
approximately $190 million remaining under its current repurchase
authorization. While the amount and timing of future share
purchases are subject to a number of factors, including Vontier’s
business, share price and general market conditions, the Company
intends to continue repurchases to drive shareholder value. The
remaining share repurchases may be made from time to time through
open market purchases, 10b5-1 plans, future ASR programs or through
privately negotiated transactions.
ABOUT VONTIER
Vontier (NYSE: VNT) is a global industrial technology company
uniting productivity, automation and multi-energy technologies to
meet the needs of a rapidly evolving, more connected mobility
ecosystem. Leveraging leading market positions, decades of domain
expertise and unparalleled portfolio breadth, Vontier enables the
way the world moves – delivering smart, safe and sustainable
solutions to our customers and the planet. Vontier has a culture of
continuous improvement and innovation built upon the foundation of
the Vontier Business System and embraced by colleagues worldwide.
Additional information about Vontier is available on the Company’s
website at www.vontier.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240805358392/en/
INVESTOR RELATIONS CONTACT Ryan Edelman Vice
President, Investor Relations Vontier Corporation +1 (984) 238-1929
ryan.edelman@vontier.com
MEDIA CONTACT Nicole Beck Vontier Corporation
nicole.beck@vontier.com
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