Delphi Automotive PLC (NYSE: DLPH) today announced that its Board of
Directors has authorized a new share repurchase program of up to $1.5
billion of its outstanding ordinary shares. The new program will
commence following the completion of the Company's previous share
repurchase program.
"Today’s announcement illustrates our confidence in the long-term growth
of Delphi's business and continued strong, free cash-flow generation,"
said Rodney O'Neal, Delphi's chief executive officer and president. "The
new share repurchase program further demonstrates our continued
commitment to create and enhance value for our shareholders."
Under the new share repurchase program, Delphi is authorized to
repurchase up to $1.5 billion of its outstanding ordinary shares. The
timing and amount of any share repurchases will be determined based on
market conditions, share price and other factors. Repurchases may be
made in the open market or in privately negotiated transactions.
About Delphi
Delphi Automotive PLC (NYSE: DLPH) is a leading global supplier of
technologies for the automotive and commercial vehicle
markets. Headquartered in Gillingham, England, Delphi operates major
technical centers, manufacturing sites and customer support services in
32 countries, with regional headquarters in Bascharage, Luxembourg; Sao
Paulo, Brazil; Shanghai, China and Troy, Michigan, U.S. Delphi delivers
innovation for the real world with technologies that make cars and
trucks safer as well as more powerful, efficient and connected.
Forward-Looking Statements
This press release, as well as other statements made by Delphi
Automotive PLC (the “Company”), contain forward-looking statements that
reflect, when made, the Company's current views with respect to current
events and financial performance. Such forward-looking statements are
subject to many risks, uncertainties and factors relating to the
Company's operations and business environment, which may cause the
actual results of the Company to be materially different from any future
results. All statements that address future operating, financial or
business performance or the Company's strategies or expectations are
forward-looking statements. Factors that could cause actual results to
differ materially from these forward-looking statements are discussed
under the captions “Risk Factors” and “Management's Discussion and
Analysis of Financial Condition and Results of Operations” in the
Company's filings with the Securities and Exchange Commission. New risks
and uncertainties arise from time to time, and it is impossible for us
to predict these events or how they may affect the Company. It should be
remembered that the price of the ordinary shares and any income from
them can go down as well as up. The Company disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events and/or otherwise, except
as may be required by law.
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