Today, Agilent Technologies Inc. (NYSE: A) said that the board of directors has given the go-ahead for a fresh share repurchase program. The common stock of the corporation may be purchased for up to $2 billion under the 2023 program.
With a focus on improving human health through research and development, Agilent Technologies Inc. has become an international powerhouse in the fields of life sciences, diagnostics, and industrial chemistry. Instruments, software, services, and knowledge are just some of the ways in which Agilent can help its business solve its toughest problems.
In the financial year 2022, the firm had sales of $6.85 billion and employed 18,000 people throughout the world.
Agilent CFO Bob McMahon has said, “Agilent is dedicated to balanced capital allocation that promotes growth and helps produce great returns for shareholders.”
The buyback of shares is a fundamental part of that plan, the company said.
The new initiative will start on March 1. The new share buyback program will take effect immediately and replace Agilent’s previous stock repurchase program, which permitted the acquisition of shares to lessen or eliminate share dilution through equity programs.
The number of shares to be repurchased and the timing of such repurchases will be determined by elements including the stock price, prevailing market, economic conditions, and organizational and legal requirements. The stock repurchase program is always subject to suspension or termination.