Helios Technologies Announces $100 Million Multi-Year Share Repurchase Program
SARASOTA, Fla.–(BUSINESS WIRE)–Helios Technologies, Inc. (NYSE: HLIO) (“Helios” or the “Company”), a global leader in highly engineered motion control and electronic controls technology, announced today that its Board of Directors has approved a multi-year share repurchase program, authorizing the Company to repurchase up to $100 million of its common stock.
“Solid financial execution has led to measurably strengthening our cash generation and the future outlook for Helios is exciting. We are confident in our ability to continue to invest in organic growth, consider strategic acquisitions, and increase our return of capital to shareholders by supplementing our over 27 year dividend history with this share repurchase program,” said Sean Bagan, President, Chief Executive Officer, and Chief Financial Officer of Helios. “While market conditions have been weak over the last couple years, we have consistently invested in our business through product and solution innovations as well as our ‘in the region for the region’ manufacturing facility strategy. These actions combined with our leading market positions and highly engineered, critical solutions position us well for future growth.”
The Company may purchase shares at management’s discretion in the open market or privately negotiated transactions. This could include transactions structured through investment banking institutions or other means in accordance with applicable securities laws, including Rule 10b5-1 trading plans. The amount and timing of repurchases are subject to a variety of factors including, but not limited to, general business and market conditions, share price, regulatory requirements and capital availability. The share repurchase program will be funded with cash on hand and cash generated from operations.
About Helios Technologies
Helios Technologies is a global leader in highly engineered motion control and electronic controls technology for diverse end markets, including construction, material handling, agriculture, energy, recreational vehicles, marine and health and wellness. Helios sells its products to customers in over 90 countries around the world. Its strategy for growth is to be the leading provider in niche markets, with premier products and solutions through innovative product development and acquisitions. The Company has paid a cash dividend to its shareholders every quarter since becoming a public company in 1997. For more information please visit: www.heliostechnologies.com and follow us on LinkedIn.
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Investor and Media contacts:
Tania Almond
Vice President, Investor Relations and Corporate Communication
(941) 362-1333
[email protected]
Deborah Pawlowski
Alliance Advisors IR
(716) 843-3908
[email protected]
KEYWORDS: Florida United States North America
INDUSTRY KEYWORDS: Electronic Design Automation Engineering Automotive Automotive Manufacturing General Automotive Technology Manufacturing
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