SCHAFFHAUSEN, Switzerland, Dec. 12,
2023 /PRNewswire/ -- TE Connectivity Ltd. (NYSE:
TEL), a world leader in connectivity and sensors, announced today
that its board of directors has authorized an increase in its share
repurchase program by an additional $1.5
billion. Any repurchases by the company will be made in
accordance with applicable securities laws in the open market or in
private transactions. The repurchase program is subject to business
and market conditions, and may be commenced, suspended or
discontinued at any time or from time to time without prior
notice.
The board also approved a recommendation to increase the
company's quarterly dividend from $0.59 to $0.65 per
share for the four fiscal quarters starting in April 2024, the beginning of the third fiscal
quarter. The recommendation would raise the company's dividend by
10% from the annual rate of $2.36 per
share to $2.60 per share, and will be
presented for shareholder approval at the company's annual general
meeting of shareholders on March 13,
2024.
About TE Connectivity
TE Connectivity Ltd. (NYSE: TEL)
is a global industrial technology leader creating a safer,
sustainable, productive, and connected future. Our broad range of
connectivity and sensor solutions enable the distribution of power,
signal and data to advance next-generation transportation,
renewable energy, automated factories, data centers, medical
technology and more. With more than 85,000 employees, including
8,000 engineers, working alongside customers in approximately 140
countries, TE ensures that EVERY CONNECTION COUNTS. Learn more at
www.te.com and on LinkedIn, Facebook,
WeChat, Instagram and X (formerly Twitter).
Forward-Looking Statements
This release contains
certain "forward-looking statements" within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995. These statements
are based on management's current expectations and are subject to
risks, uncertainty and changes in circumstances, which may cause
actual results, performance, financial condition or achievements to
differ materially from anticipated results, performance, financial
condition or achievements. All statements contained herein that are
not clearly historical in nature are forward-looking and the words
"anticipate," "believe," "expect," "estimate," "plan," and similar
expressions are generally intended to identify forward-looking
statements. We have no intention and are under no obligation to
update or alter (and expressly disclaim any such intention or
obligation to do so) our forward-looking statements whether as a
result of new information, future events or otherwise, except to
the extent required by law. The forward-looking statements in this
release include statements addressing our future financial
condition and operating results. Examples of factors that could
cause actual results to differ materially from those described in
the forward-looking statements include, among others, the extent,
severity and duration of business interruptions, such as the
coronavirus disease 2019 ("COVID-19") negatively affecting our
business operations; business, economic, competitive and regulatory
risks, such as conditions affecting demand for products in the
automotive and other industries we serve; competition and pricing
pressure; fluctuations in foreign currency exchange rates and
commodity prices; natural disasters and political, economic and
military instability in countries in which we operate, including
continuing military conflict between Russia and Ukraine resulting from Russia's invasion of Ukraine or escalating tensions in surrounding
countries; developments in the credit markets; future goodwill
impairment; compliance with current and future environmental and
other laws and regulations; and the possible effects on us of
changes in tax laws, tax treaties and other legislation. More
detailed information about these and other factors is set forth in
TE Connectivity Ltd.'s Annual Report on Form 10-K for the fiscal
year ended Sept 29, 2023, as well as
in our Quarterly Reports on Form 10-Q, Current Reports on Form 8-K
and other reports filed by us with the U.S. Securities and Exchange
Commission.
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SOURCE TE Connectivity, LTD