(RTTNews) - Visteon (VC) said its board has authorized a share repurchase program of $800 million of common stock expiring December 31, 2029. Visteon expects to fund the repurchases through cash available on hand in excess of operating requirements and future cash flow generation. Shares may be repurchased utilizing a variety of methods, including open market purchases, accelerated share repurchase programs, privately negotiated transactions and structured repurchase transactions.
"This share repurchase program signals our board's confidence in Visteon's strategy and leadership in digital cockpit, software-defined and AI-enhanced technologies reshaping our industry," said President and CEO Sachin Lawande.
In pre-market trading on NasdaqGS, Visteon shares are up 2.4 percent to $121.00.
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