SUNNYVALE, Calif., Aug. 19, 2021 /PRNewswire/
-- Trimble (NASDAQ: TRMB) announced today that its
Board of Directors has approved a new share repurchase program
authorizing up to $750 million in repurchases of the
Company's common stock. The
share repurchase authorization does not have an
expiration date and replaces the prior 2017 authorization of
$600 million, of which $50.7
million was remaining and has been cancelled.
The new repurchase program goes into effect
immediately, and shares may be repurchased from time to time,
subject to business and market conditions and other investment
opportunities, through open market transactions,
privately-negotiated transactions, accelerated stock repurchase
plans, or by other means. The program may be suspended,
modified or discontinued at any time at the Company's discretion
without notice.
Year to date, Trimble repurchased approximately 0.6
million shares of its common stock in open market
purchases at an average price of $71.24 per share for a total of
approximately $40 million, which was
under the prior authorization.
About Trimble
Trimble is an industrial technology company transforming the way
the world works by delivering solutions that enable our customers
to thrive. Core technologies in positioning, modeling, connectivity
and data analytics connect the digital and physical worlds to
improve productivity, quality, safety, transparency and
sustainability. From purpose-built products to enterprise lifecycle
solutions, Trimble is transforming industries such as agriculture,
construction, geospatial and transportation. For more information
about Trimble (NASDAQ:TRMB), visit: www.trimble.com.
Safe Harbor
Certain statements made in this news release regarding
Trimble's plans to repurchase up to $750 million of its
common shares, the anticipated timing of such repurchases, the
manner in which Trimble may effect such repurchase, and other
statements that are not historical in nature constitute forward
looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, and are made pursuant to the safe harbor provisions of
the Securities Litigation Reform Act of 1995. These statements
involve risks and uncertainties, and actual events and results may
differ materially from those described in this news release.
Factors that could cause or contribute to such differences include,
but are not limited to, Trimble's available resources and cash
flows from operating activities to repurchase the shares, changing
market prices for Trimble common stock, economic trends in the
markets served by Trimble, and alternative uses of
capital. More information about potential factors which could
affect Trimble's business, financial results, and plans for share
repurchases is set forth in reports filed with the SEC,
including Trimble's quarterly reports on Form 10-Q and its annual
report on Form 10K. All forward looking statements are based on
information available to Trimble as of the date hereof, and Trimble
assumes no obligation to update such statements.
FTRMB
View original
content:https://www.prnewswire.com/news-releases/trimble-announces-new-share-repurchase-program-301358612.html
SOURCE Trimble