NEW YORK — Bruker announced after the close of the market on Monday that on May 12 its board of directors approved a new share repurchase authorization.
Under the program, Bruker can purchase up to $500 million of company stock over a two-year period starting May 15, 2023, though it is not obligated to purchase any specific number of shares.
"Bruker's strong financial performance, outlook, and balance sheet continues to support a flexible capital allocation strategy with our goal of maximizing shareholder value creation over the long term," Gerald Herman, executive VP and CFO of Bruker, said in a statement. "This new share repurchase authorization provides flexibility to selectively return capital to our shareholders while continuing to prioritize investments which enable innovation and sustainable growth over time, including in our high-growth, high-margin, Project Accelerate 2.0 initiatives."
The company also announced that its board approved a quarterly cash dividend of $.05 per share of Bruker common stock. The dividend will be paid on June 16, 2023, to stockholders of record as of June 1, 2023.