- Johnson Controls (JCI, Financial) has expanded its share repurchase program by $9 billion.
- This new authorization complements the remaining $1.1 billion from the 2021 program.
- The buyback program offers flexibility with no set expiration date or purchase obligations.
Johnson Controls International plc, the global leader in smart, healthy, and sustainable buildings, has announced a substantial $9 billion increase to its share repurchase program. This new authorization supplements the $1.1 billion that remained from the previous authorization approved in 2021, bringing the total available for share repurchases to $10.1 billion as of the end of the second fiscal quarter.
The company plans to execute these repurchases using various methods, including open market purchases, Rule 10b5-1 plans, tender offers, or accelerated share repurchase programs. Notably, there is no obligation for Johnson Controls (JCI, Financial) to repurchase a specific number of shares within any timeframe. The execution of repurchases will depend on the share price, market conditions, and other strategic considerations.
This authorization provides Johnson Controls with significant flexibility, as it has no set expiration date, allowing the company to adapt to changing market conditions. Johnson Controls retains the right to amend, suspend, or terminate the share repurchase program at its discretion without prior notice, ensuring agile capital management.
