Johnson Controls Expands Share Buyback Program by $9 Billion
Johnson Controls Boosts Share Repurchase Authorization
Johnson Controls International plc (NYSE: JCI), a renowned leader in smart and sustainable building solutions, is thrilled to announce a substantial increase to its share repurchase program. The company's board of directors has recently approved an impressive $9 billion share buyback authorization. This move is in addition to the remaining $1.1 billion left from a previous authorization granted back in 2021, showcasing Johnson Controls’ steadfast commitment to returning value to its shareholders.
Flexible Execution Strategy for Repurchases
Johnson Controls is poised to implement these share repurchases through various means permissible under applicable securities laws. This includes open market purchases, utilizing a Rule 10b5-1 plan, conducting tender offers, or engaging in accelerated share repurchase programs. The key advantage of this strategy is its flexibility; there is no obligation to buy a specific quantity of shares within set timeframes. Decisions regarding the manner and timing of the purchases will be driven by evaluations of market conditions and the pricing of Johnson Controls’ shares. Importantly, this share repurchase authorization does not carry a firm expiration date, thereby allowing Johnson Controls to adjust or suspend the program as it sees fit.
About Johnson Controls: A Commitment to Sustainability
At Johnson Controls (NYSE: JCI), we dedicate ourselves to transforming environments where people live, work, learn, and play. As a world-leading provider of smart, healthy, and sustainable buildings, our objective is to optimize building performance, ensuring they effectively meet the needs of people, places, and the planet. With nearly 140 years of innovation history, our digital platform, OpenBlue, lays down a blueprint for future developments across various industries, such as healthcare, education, data centers, manufacturing, and sports venues.
Innovative Solutions and Global Expertise
Johnson Controls boasts the world’s largest portfolio of building technology and software. Our global team comprises experts who are committed to delivering industry-leading solutions the market can trust. Our advancements in smart building technology help to ensure that operational efficiency is maintained, costs are lowered, and safety standards are upheld in all environments we serve.
Investors and Media Contacts
For inquiries regarding investment opportunities or media relations, interested parties can reach out as follows:
Investor Contact
Jim Lucas
Direct: +1 414.340.1752
Media Contact
Danielle Canzanella
Direct: +1 203.499.8297
Frequently Asked Questions
What is the purpose of the share repurchase program?
The share repurchase program aims to enhance shareholder value by reducing the number of outstanding shares, thus potentially increasing earnings per share.
How does Johnson Controls determine the timing of share repurchases?
The timing and amount of share repurchases are based on current market conditions and the evaluation of Johnson Controls’ share price.
Are there any future plans for the share repurchase program?
While the current program is substantial, Johnson Controls maintains the flexibility to amend or suspend the repurchase authorization without prior notice.
Can the buyback program impact the company's operations?
The primary aim is to create value for shareholders; however, management ensures that operational integrity remains a top priority throughout the repurchase process.
Where can more information about Johnson Controls be found?
For further details about our initiatives and advancements, visit the official Johnson Controls website and follow us on social media platforms.
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