BILERICA, Mass., May 10, 2019
/PRNewswire/ -- Bruker Corporation (NASDAQ: BRKR) today announced
that on May 9, 2019, its Board of
Directors approved a new share repurchase authorization for the
purchase of up to $300 million of the
Company's common stock over a two-year period commencing
May 14, 2019.
Under this authorization, the Company may repurchase its common
stock from time to time, in amounts, at prices, and at such times
as the Company deems appropriate, subject to market conditions,
legal requirements and other considerations. The Company's
repurchases may be executed using open market purchases, privately
negotiated purchases or other transactions, including transactions
that may be effected pursuant to trading plans intended to qualify
under Rule 10b5-1 of the Securities Exchange Act of 1934, as
amended, during the period from May 14,
2019 to May 13, 2021.
The Company intends to fund repurchases under this share
repurchase authorization from cash on hand and available borrowings
under its existing credit facility. The share repurchase
authorization does not obligate the Company to repurchase any
specific number of shares, and may be suspended, modified or
terminated at any time without prior notice.
"Bruker's ongoing margin expansion, financial health and
positive outlook for the future support the continuation of our
share repurchases with a new $300
million, two-year authorization," said Gerald Herman, Chief Financial Officer of
Bruker. "We plan to execute this follow-on repurchase authorization
consistent with our capital allocation strategy of prioritizing
investments and innovation that grow the business over the long
term, including our high growth Project Accelerate
initiatives."
Bruker Corporation also announced today that its Board of
Directors has approved payment of a quarterly cash dividend in the
amount of $0.04 per share on the
Company's common stock. The dividend will be paid on
June 21, 2019 to stockholders of
record as of June 3, 2019.
About Bruker Corporation
Bruker is enabling scientists to make breakthrough discoveries
and develop new applications that improve the quality of human
life. Bruker's high-performance scientific instruments and
high-value analytical and diagnostic solutions enable scientists to
explore life and materials at molecular, cellular and microscopic
levels. In close cooperation with our customers, Bruker is enabling
innovation, improved productivity and customer success in life
science molecular research, in applied and pharma applications, in
microscopy and nanoanalysis, and in industrial applications, as
well as in cell biology, preclinical imaging, clinical phenomics
and proteomics research and clinical microbiology. For more
information, please visit: www.bruker.com.
Forward Looking Statements
Any statements contained in this press release which do not
describe historical facts may constitute forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements regarding the Company's commitment to
repurchasing its shares at any level in the future, the anticipated
value of shares to be repurchased by the Company, the expected
timing of such repurchases and the availability of funds for the
repurchase of shares. Any forward-looking statements contained
herein are based on current expectations, but are subject to risks
and uncertainties that could cause a change in the Company's share
repurchase authorization by the Company's Board of Directors or
management, including changes in the value of shares to be
repurchased or the timing of such repurchases, and unanticipated
material payment obligations incurred by the Company that decrease
the Company's willingness or ability to repurchase shares at the
anticipated level and timing, or at all and other risk factors
discussed from time to time in our filings with the Securities and
Exchange Commission, or SEC. These and other factors are identified
and described in more detail in our filings with the SEC,
including, without limitation, our annual report on Form 10-K for
the year ended December 31, 2018.
These risks and uncertainties could cause actual results to differ
materially from those referred to in these forward-looking
statements. We expressly disclaim any intent or obligation to
update these forward-looking statements other than as required by
law.
Contacts:
Pam
Clark
Investor Relations
Bruker Corporation
T: +1 (978) 663–3660, ext.1479
E: investor.relations@bruker.com
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SOURCE Bruker Corporation