Motorola Solutions Board of Directors Increases Stock Repurchase Program Authorization from up to $2.0 Billion to up to $3.0 Billion; Sets Date for Annual Meeting
SCHAUMBURG, Ill. – Jan. 30, 2012 – 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.
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 media center or subscribe to our news feed.
- Nick Sweers
- Tama McWhinney