Jabil Announces New $1 Billion Share Repurchase Authorization
July 23 2021 - 8:00AM
Business Wire
Today, Jabil Inc. (NYSE: JBL), announced that its Board of
Directors has authorized a share repurchase program of up to $1
billion in common stock. The shares will be repurchased from
time-to-time through fiscal year 2023 using various methods,
including in the open market at the Company's discretion and
subject to market conditions and other factors.
“This is continued evidence of our ongoing commitment to return
capital to shareholders,” said CEO Mark Mondello. “This $1 billion
authorization reflects our belief in Jabil’s ability to generate
strong earnings and free cash flows,” added Mondello.
Since 2016, Jabil has returned approximately $2 billion to
shareholders through both share repurchases and dividends. As part
of this shareholder return framework, Jabil has repurchased 63.6
million shares at an average price of $28.73.
“The Jabil team continues to deliver strong results as we focus
on best-in-class financial targets at scale. We look forward to
sharing more detail, including our outlook for FY22, during our
fourth annual investor briefing in September,” continued
Mondello.
About Jabil: Jabil (NYSE: JBL) is a manufacturing
solutions provider with over 260,000 employees across 100 locations
in 30 countries. The world's leading brands rely on Jabil's
unmatched breadth and depth of end-market experience, technical and
design capabilities, manufacturing know-how, supply chain insights
and global product management expertise. Driven by a common
purpose, Jabil and its people are committed to making a positive
impact on their local community and the environment. Visit
www.jabil.com to learn more.
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version on businesswire.com: https://www.businesswire.com/news/home/20210723005046/en/
Investor Contact: Adam Berry Vice President, Investor
Relations adam_berry@jabil.com
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