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17.09.2015 22:05:01
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Arrow To Buyback Addl $400 Mln Stock
(RTTNews) - Arrow Electronics Inc (ARW) on Thursday said it would buyback an additional $400 million of its common stock.
"Arrow's capital allocation priorities continue to be organic investments that accelerate our growth, accretive acquisitions that expand our capabilities and reach, and the return of excess cash to our shareholders," CEO said Michael Long. "Our company's growth and the effective management of our balance sheet enabled the Board to increase the size of this authorization."
The company has spent about $1.4 billion on share repurchases since the beginning of 2010.
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