SCHAUMBURG, Ill. (AP) -- Motorola Solutions has authorized the buyback of another $1 billion in shares this year.
The company announced Monday that its board approved the buyback program, which will add to a $2 billion share buyback it announced in July. The company already bought $1.1 billion in stock under the plan, so it can now buy $1.9 billion through the end of the year.
The shares can be acquired on the market or in private sales. Motorola plans to buy the stock with cash.
The company also announced it will hold its 2012 shareholder's meeting on April 30 in Washington, D.C. Shareholders of record as of March 2 will be able to vote on resolutions at the meeting.
Motorola Solutions makes communication equipment for businesses and government agencies, such as digital two-way radios or wireless equipment.
Shares of Motorola Solutions Inc. dropped 1 cent to $45.79 in morning trading.
There are no comments yet