MILWAUKEE --(BUSINESS WIRE)--Jun. 4, 2014-- The Board of Directors of Rockwell Automation, Inc. (NYSE: ROK) today authorized the company to expend up to an additional $1 billion to repurchase shares of Rockwell Automation common stock. This is in addition to the authorization on June 8, 2012 to repurchase $1 billion worth of common stock, of which approximately $223 million was remaining as of June 3, 2014 .
The Board also declared a quarterly dividend of 58 cents per share on common stock, payable on Sept. 10, 2014 to shareowners of record at the close of business on Aug. 11, 2014 .
"In the prior four fiscal years, we have returned $2 billion , over 80 percent of free cash flow, to shareowners through dividends and share repurchases," said Keith D. Nosbusch , chairman and chief executive officer. "Our solid financial position and sustainable cash generation enable us to continue our strong track record of returning cash to shareowners while investing in the business and pursuing strategic acquisitions."
Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and information, makes its customers more productive and the world more sustainable. Headquartered in Milwaukee, Wis. , Rockwell Automation employs about 22,000 people serving customers in more than 80 countries.
Source: Rockwell Automation, Inc.
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Published June 3, 2014