Analog Devices Reinstates Share Repurchase Program; Increases Authorization by $2 Billion
21 Agosto 2018 - 6:00PM
Business Wire
Analog Devices, Inc. (Nasdaq: ADI), the leading global
high-performance analog technology company, today announced that it
has reinstated its share repurchase program, and that its Board of
Directors has authorized the Company to repurchase an additional $2
billion of its common stock.
Vincent Roche, President and CEO, said “Today’s announcement
reflects our confidence in ADI’s strong performance and the
successful execution of our strategy. I am pleased that we have
achieved our 2x leverage ratio goal ahead of plan, allowing us to
enhance our capital returns to shareholders through both our
quarterly dividend and share repurchases.”
"Our goal is to continue delivering broad revenue growth and
generate strong cash flow to enable us to invest in the business,
grow our capital returns, and deliver shareholder value for years
to come.”
Analog Devices commenced its common stock repurchase program in
fiscal year 2004, and since then the Company has repurchased a
total of approximately $5.4 billion of its common stock. Under the
program, the Company may repurchase outstanding shares of its
common stock from time to time on the open market or through
privately negotiated transactions. ADI management will determine
the timing and amount of shares repurchased.
ADI’s management will discuss its updated capital allocation
strategy on its regularly scheduled conference call regarding third
quarter fiscal 2018 results, which will take place Wednesday,
August 22, 2018 at 10:00 am ET.
About Analog Devices
Analog Devices (Nasdaq: ADI) is the leading global
high-performance analog technology company dedicated to solving the
toughest engineering challenges. We enable our customers to
interpret the world around us by intelligently bridging the
physical and digital with unmatched technologies that sense,
measure, power, connect and interpret. Visit
http://www.analog.com.
Forward Looking Statements
This press release contains forward-looking statements, which
address a variety of subjects including, for example, our
statements regarding the Company’s capital allocation strategy and
expected capital returns to shareholders, including quarterly
dividends and share repurchases, expected revenue growth,
investment strategy and cash flow generation, and other financial
results and objectives. Statements that are not historical facts,
including statements about our beliefs, plans and expectations, are
forward-looking statements. Such statements are based on our
current expectations and are subject to a number of factors and
uncertainties, which could cause actual results to differ
materially from those described in the forward-looking statements.
The following important factors and uncertainties, among others,
could cause actual results to differ materially from those
described in these forward-looking statements: any faltering in
global economic conditions or the stability of credit and financial
markets, erosion of consumer confidence and declines in customer
spending, unavailability of raw materials, services, supplies or
manufacturing capacity and changes in geographic, product or
customer mix. For additional information about factors that could
cause actual results to differ materially from those described in
the forward-looking statements, please refer to our filings with
the Securities and Exchange Commission ("SEC"), including
the risk factors contained in our most recent Quarterly Report on
Form 10-Q and Annual Report on Form 10-K. Forward-looking
statements represent management's current expectations and are
inherently uncertain. Except as required by law, we do not
undertake any obligation to update forward-looking statements made
by us to reflect subsequent events or circumstances.
Analog Devices and the Analog Devices logo are registered
trademarks or trademarks of Analog Devices, Inc. All other
trademarks mentioned in this document are the property of their
respective owners.
(ADI-WEB)
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version on businesswire.com: https://www.businesswire.com/news/home/20180821005691/en/
Analog Devices, Inc.Mr. Michael Lucarelli, 781-461-3282Director
of Investor Relationsinvestor.relations@analog.com
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