June 8, 2012 / 1:10 PM / 5 years ago

Rockwell Automation OKs $1 bln in buyback funds

1 Min Read

BOSTON, June 8 (Reuters) - Rockwell Automation Inc, a maker of systems that help factories run more smoothly, said on Friday its board had authorized a $1 billion stock buyback and raised the quarterly dividend by 11 percent to 47 cents per share.

The buyback authorization, which is addition to about $51 million in funds remaining in a buyback authorized in 2007, would give the company room to repurchase about 10 percent of its outstanding shares at current prices.

As of Thursday's close, shares of the Milwaukee-based company were down 14.5 percent over the past year, a steeper drop than the 3 percent slide of the Standard & Poor's capital goods industry index.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below