AMETEK Announces $1 Billion Share Repurchase Authorization
- Friday, May 6, 2022
AMETEK, Inc. (NYSE: AME) today announced that its Board of Directors has approved a $1 billion share repurchase authorization. This authorization replaces an earlier $500 million share repurchase authorization approved by the Board in February 2019, of which approximately $313 million remained available.
"While the primary use of our strong cash flow remains strategic acquisitions, this increased share repurchase authorization provides us with added flexibility to enhance shareholder value through the opportunistic repurchases of our common stock,” commented David A. Zapico, AMETEK Chairman and Chief Executive Officer.
About AMETEK
AMETEK (NYSE: AME) is a leading global provider of industrial technology solutions serving a diverse set of attractive niche markets with annualized sales of approximately $7.5 billion. The AMETEK Growth Model integrates the Four Growth Strategies - Operational Excellence, Technology Innovation, Global and Market Expansion, and Strategic Acquisitions - with a disciplined focus on cash generation and capital deployment. AMETEK's objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. Founded in 1930, AMETEK has been listed on the NYSE for over 90 years and is a component of the S&P 500. For more information, visit www.ametek.com.Contact:
Kevin Coleman
Vice President, Investor Relations and Treasurer
kevin.coleman@ametek.com
Phone: 610.889.5247
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