Business
Bruker Announces New $300 Million Share Repurchase Authorization and Quarterly Dividend
BILERICA, Mass., May 10, 2019 /PRNewswire/ -- Bruker Corporation (NASDAQ: BRKR) today announced that on May 9, 2019, its Board of Directors approved a new
About this update from Bruker Corporation
[{"type":"text","content":"BILERICA, Mass., May 10, 2019 /PRNewswire/ -- Bruker Corporation (NASDAQ: BRKR) today announced that on May 9, 2019, its Board of Directors approved a new share repurchase authorization for the purchase of up to $300 million of the Company's common stock over a two-year period commencing May 14, 2019.\n\n \nUnder this authorization, the Company may repurchase its common stock from time to time, in amounts, at prices, and at such times as the Company deems appropriate, subject to market conditions, legal requirements and other considerations. The Company's repurchases may be executed using open market purchases, privately negotiated purchases or other transactions, including transactions that may be effected pursuant to trading plans intended to qualify under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, during the period from May 14, 2019 to May 13, 2021. \nThe Company intends to fund repurchases under this share repurchase authorization from cash on hand and available borrowings under its existing credit facility. The share repurchase authorization does not obligate the Company to repurchase any specific number of shares, and may be suspended, modified or terminated at any time without prior notice. \n\"Bruker's ongoing margin expansion, financial health and positive outlook for the future support the continuation of our share repurchases with a new $300 million, two-year authorization,\" said Gerald Herman, Chief Financial Officer of Bruker. \"We plan to execute this follow-on repurchase authorization consistent with our capital allocation strategy of prioritizing investments and innovation that grow the business over the long term, including our high growth Project Accelerate initiatives.\"\nBruker Corporation also announced today that its Board of Directors has approved payment of a quarterly cash dividend in the amount of $0.04 per share on the Company's common stock. The dividend will be paid on June 21, 2019 to stockholders of record as of June 3, 2019. \nAbout Bruker Corporation \nBruker is enabling scientists to make breakthrough discoveries and develop new applications that improve the quality of human life. Bruker's high-performance scientific instruments and high-value analytical and diagnostic solutions enable scientists to explore life and materials at molecular, cellular and microscopic levels. I...