Nordson Authorizes Addl. $500 Mln Share Repurchase Program

(RTTNews) - Nordson Corp. (NDSN), a manufacturer of differentiated products and systems, announced that its Board of Directors has authorized the repurchase of up to an additional $500 million of its common shares. This adds to the $119 million remaining from its 2015 Board authorization.

Expected uses for repurchased shares include funding benefit programs including stock options, restricted stock and 401(k) matching, among others. Shares repurchased will be treated as treasury shares until used for such purposes.

Nordson President and Chief Executive Officer Michael Hilton, said, "The Board's action reflects continued confidence in the long-term strength of our Company.... Strong and consistent cash generation is a hallmark of our business... We also will continue making investments to fund long-term organic and acquisitive growth opportunities."