Goodrich Announces Board Authorization to Increase Share Repurchase Plan by $300 Million in Common Stock
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CHARLOTTE, N.C., Feb. 19 -- The Board of Directors of Goodrich Corporation (NYSE: GR) today approved an increase to the company's existing Share Repurchase Plan to authorize the repurchase of up to an additional $300 million of the company's common stock, bringing the total authorization to $600 million. Since the initial $300 million authorization was approved in October 2006, the company has repurchased 3.9 million shares for a total of $227 million, through January 31, 2008. The primary purpose of this plan is to offset dilution to existing shareholders from the company's stock-based compensation plans.
Repurchases under the program may be made through open market or privately negotiated transactions at times and in such amounts as management deems appropriate, subject to market conditions, regulatory requirements and other factors. The program does not obligate the company to repurchase any particular amount of common stock, and may be suspended or discontinued at any time without notice. Shares repurchased under the program are expected to be held as treasury shares. As of January 31, 2008, Goodrich had 125,075,415 shares outstanding.
Goodrich Corporation, a Fortune 500 company, is a global supplier of systems and services to aerospace, defense and homeland security markets. With one of the most strategically diversified portfolios of products in the industry, Goodrich serves a global customer base with significant worldwide manufacturing and service facilities. For more information visit www.goodrich.com .
SOURCE Goodrich Corporation
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Laurie Tardif,
+1-704-423-7048,
or
Lisa Bottle,
+1-704-423-7060;
Investor Relations,
Paul Gifford,
+1-704-423-5517,
all of Goodrich Corporation
