Arrow Electronics accelerates buyback
Aug 17, 2007
Electronic parts and computer products distributor Arrow Electronics Inc. said Thursday it plans to repurchase shares under a previously announced $100 million buyback program to completely offset dilution from the exercise of stock options.
The program was originally intended to minimize earnings per share dilution caused by the issuance of such shares. Repurchases were funded with cash received from the exercise of options in the previous quarter.
Arrow Electronics will now use both cash flow from operations and cash received from option exercises to fund repurchases.
The company has bought back $46.4 million of common stock under this program to date.