17-Feb-2011 10:10 AM

Goodrich Board authorises to increase to stock repurchase plan by USD500 million

Goodrich Corporation board approved (15-Feb-2011) an increase to the company's existing share repurchase plan to authorise the repurchase of up to an additional USD500 million of the company's common stock, bringing the total authorization to USD1.1 billion. The company has repurchased 8.9 million shares for a total of USD537 million, from Nov-2006 through Jan-2011. The primary purpose of this plan is to offset dilution to existing shareholders from the company's stock-based compensation plans.