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Rockwell Automation Board of Directors Approves $1 Billion for Common Stock Repurchase

News provided by Rockwell Automation, Inc.
September 07, 2018 14:00

MILWAUKEE, WIS.--(Business Wire / Korea Newswire) September 07, 2018 -- The Board of Directors of Rockwell Automation, Inc. (NYSE: ROK) today authorized the company to expend up to an additional $1 billion to repurchase shares of Rockwell Automation common stock. This is in addition to the authorization on January 15, 2018, to repurchase $1 billion worth of common stock, of which approximately $245 million was remaining as of September 5, 2018.

“Our Connected Enterprise strategy generates strong, sustainable cash flow,” said Blake D. Moret, Rockwell Automation chairman, and CEO. “This enables us to balance business reinvestment and strategic acquisitions with a return of cash to shareowners. In the last five fiscal years, we returned over $4 billion, or 87 percent of free cash flow, to shareowners through dividends and share repurchases. We have a long record of returning excess cash to shareowners, and we remain committed to it.”

Rockwell Automation, Inc. (NYSE: ROK) is the world’s largest company focused on industrial automation and information, dedicated to making our customers more productive and the world more sustainable. Headquartered in Milwaukee, Wis., Rockwell Automation employs approximately 22,000 people serving customers in more than 80 countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180906005934/en/

Contact

Rockwell Automation, Inc.
Steve Etzel
Investor Relations
+1 414-382-8510
Keith Lester
Public Affairs
+1 414-382-4852

This is a news release distributed by Korea Newswire on behalf of this company . Learn more

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Contact

Rockwell Automation, Inc.
Steve Etzel
Investor Relations
+1 414-382-8510
Keith Lester
Public Affairs
+1 414-382-4852

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