Motorola Solutions Board of Directors Increases Stock Repurchase Program Authorization from up to $2.0 Billion to up to $3.0 ...
January 30 2012 - 7:00AM
Business Wire
Motorola Solutions, Inc. (NYSE: MSI) announced today that the
Company’s Board of Directors authorized up to $1.0 billion in
additional funds for use in the existing stock repurchase program
through the end of 2012. The Board also set April 30, 2012 as the
date for its 2012 Annual Stockholders Meeting to be held in
Washington, D.C. and set March 2, 2012 as the record date for
determining shareholders entitled to vote at the Annual
Stockholders Meeting.
This increase of up to $1.0 billion is in addition to the up to
$2.0 billion announced in July 2011, raising the total
authorization to up to $3.0 billion. After stock repurchases of
approximately $1.1 billion through Dec. 31, 2011, Motorola
Solutions will have up to approximately $1.9 billion for its stock
repurchase program in 2012.
The Company said it may repurchase shares on the open market or
in private transactions depending on market conditions, and that it
expects to use existing cash and cash from operations for the
repurchases.
Forward Looking Statements
This press release contains “forward-looking statements” within
the meaning of applicable federal securities laws. These statements
are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995 and include statements
with respect to the amount and timing of future stock repurchases
under our stock repurchase program, including certain terms and
conditions of the share repurchase program. We can give no
assurance that any future events discussed in these statements will
be achieved. Any forward-looking statements represent our views
only as of today and should not be relied upon as representing our
views as of any subsequent date. Readers are cautioned that such
forward-looking statements are subject to a variety of risks and
uncertainties that could cause our actual results to differ
materially from the statements contained in this release. Motorola
Solutions cautions the reader that the risk factors on pages 12
through 25 in Item 1A of Motorola Solutions, Inc.'s 2010 Annual
Report on Form 10-K, on page 46 in Item 1A of Motorola Solutions,
Inc.’s First Quarter 2011 Quarterly Report on Form 10-Q, on page 50
in Item 1A of Motorola Solutions, Inc.’s Third Quarter 2011
Quarterly Report on Form 10-Q, and in its other SEC filings
available for free on the SEC’s website at www.sec.gov and on
Motorola Solutions’ website at www.motorolasolutions.com, could
cause Motorola Solutions’ actual results to differ materially from
those estimated or predicted in the forward-looking statements.
About Motorola Solutions
Motorola Solutions is a leading provider of mission-critical
communication solutions and services for enterprise and government
customers. Through leading-edge innovation and communications
technology, it is a global leader that enables its customers to be
their best in the moments that matter. Motorola Solutions trades on
the New York Stock Exchange under the ticker “MSI.” To learn more,
visit www.motorolasolutions.com. For ongoing news, please visit our
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MOTOROLA, MOTOROLA SOLUTIONS and the Stylized M Logo are
trademarks or registered trademarks of Motorola Trademark Holdings,
LLC and are used under license. All other trademarks are the
property of their respective owners. ©2012 Motorola Solutions, Inc.
All rights reserved.
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