Delphi Automotive PLC (DLPH: Quote) said Thursday that its Board of Directors has authorized a new share repurchase program of up to $750 million of the company's outstanding ordinary shares.
The program follows the completion of $300 million of share repurchases under Delphi's previously announced share repurchase program that commenced in January.
"Today's announcement highlights both our strong balance sheet and free cash flow generation," said Kevin Clark, senior vice president and chief financial officer of Delphi.
Under the program, Delphi is authorized to repurchase up to $750 million of its outstanding ordinary shares. The timing and amount of any share repurchases will be determined based on market conditions, share price and other factors. Repurchases may be made in the open market or in privately negotiated transactions.
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by RTT Staff Writer
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