RBC Bearings Announces $100 Million Share Repurchase Program
RBC Bearings Incorporated (ROLL)
Last rbc bearings incorporated earnings: 2/4 08:00 am
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US:NASDAQ Investor Relations:
investor.rbcbearings.com
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Source: Business Wire
New Program Replaces Old $50 Million Program OXFORD, Conn.--(BUSINESS WIRE)-- RBC Bearings Incorporated (Nasdaq: ROLL), a leading international manufacturer of highly engineered precision bearings and components for the industrial, defense and aerospace industries, today announced that its Board of Directors has approved a $100 million share repurchase program for RBC stock. “Our primary use of cash will continue to be for driving organic growth and acquisitions that complement our aerospace, defense and industrial portfolios,” said Dr. Michael J. Hartnett, Chairman, President and Chief Executive Officer. “Our new stock repurchase program will enable us to offset the dilution of our incentive stock plan, which is an important element of our employee compensation program, and also demonstrates the strength of our cash generation and growth expectations.” Under the new program, the Company
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