Woodward to authorise stock repurchase program

Woodward has reported that its Board of Directors has authorized a new stock repurchase program, under which up to US$500m in Woodward shares may be purchased in the open market and private transactions. The new program is scheduled to expire in November 2019. The previous stock repurchase program, which was authorized for US$300m and scheduled to expire in January 2018, was terminated and replaced by the new program. The company purchased approximately US$250m of stock under the previous program. “Our stock repurchase program is an important part of our capital deployment strategy to return value to our shareholders. This authorization provides us the ability and flexibility to utilize our cash flow to repurchase Woodward shares,” said Robert F. Weber, Jr., Vice Chairman, Chief Financial Officer and Treasurer.