Print
Email
Print Edition StoriesThursday, June 12, 2008
United Technologies board OKs $4B stock buyback plan
By Mass High Tech Staff
The board of directors of industrial giant United Technologies Corp. has approved a company plan to repurchase up to 60 million shares of the company’s common stock worth approximately $4 billion at current prices.
According to officials at Hartford, Conn.-based United Technologies (NYSE: UTX) the new program replaces one that was approved in December 2006, which was nearing completion and has already resulted in the repurchase of $2 billion of United Technologies shares during 2007.
The company says it expects repurchases in 2008 to total $2 billion.
Across its six operating segments, United Technologies (NYSE: UTX) employs more than 225,000 people worldwide. It reported $55 billion in revenue in 2007, with a net profit of $4.2 billion.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
RSS Feeds
