Goodrich to increase common stock repurchase plan by $500 million

The Board of Directors of Goodrich Corporation approved an increase to the company’s existing Share Repurchase Plan to authorize the repurchase of up to an additional $500 million of the company’s common stock, bringing the total authorization to $1.1 billion. The company has repurchased 8.9 million shares for a total of $537 million, from November 2006 through January 2011. The primary purpose of this plan is to offset dilution to existing shareholders from the company’s stock-based compensation plans.