http://www.fool.com/investing/general/2013/07/29/caterpillar-launches-1-billion-accelerated-buyback.aspx
Caterpillar Launches $1 Billion Accelerated Buyback Plan
By Rich DupreyJuly 29, 2013
Having completed one share repurchase agreement last month for $1 billion, heavy-equipment manufacturer Caterpillar (NYSE: CAT ) announced today that it's launching a second round of buybacks, purchasing the stock from Societe Generale, one of the largest European financial-services groups.
The international financier will immediately deliver approximately 11 million shares based on current market prices, with the final number of shares bought back based on Caterpillar's volume-weighted average stock price during the period the agreement remains in effect, which is expected to be completed by September.
Noting the repurchase of $2 billion worth of stock this year and having raised the company's dividend by 15% last month, Caterpillar Chairman and CEO Doug Oberhelman said, "The continued strength of our balance sheet and strong cash flow puts us in a good position to reaffirm our commitment to stockholders, even in the midst of a downturn."
In February 2007, the board of directors authorized the repurchase of $7.5 billion of company stock, and in December 2011, it extended the authorization through December 2015. Through the end of the second quarter of 2013, $4.8 billion of the $7.5 billion authorization was spent.
mikeon88 發表於 2013-7-30 14:23
美股只要股價便宜就進來買庫藏股，而且這麼大手筆，
難怪股價漲不停 ！
上次MHFI股價被打下來，也宣佈買回庫藏股。
而且我相信美國財務專業人士都有用股息折現公式在評價股票，
每次都跟盈再表算得差不多。
Josephchu0616 發表於 2013-7-30 15:26
根據Caterpillar 2011 10k
他們給經理人相當約5千5百萬股（約9-10%的流通股數）的options，exercise 價格約53元，即使repurchase後股數還是很多，Coach也有類似現象，5年買回了快20%的股票，但management exercise 之後只剩減少9%。公司很大方。
Caterpillar Launches $1 Billion Accelerated Buyback Plan
By Rich DupreyJuly 29, 2013
The international financier will immediately deliver approximately 11 million shares based on current market prices, with the final number of shares bought back based on Caterpillar's volume-weighted average stock price during the period the agreement remains in effect, which is expected to be completed by September.
Noting the repurchase of $2 billion worth of stock this year and having raised the company's dividend by 15% last month, Caterpillar Chairman and CEO Doug Oberhelman said, "The continued strength of our balance sheet and strong cash flow puts us in a good position to reaffirm our commitment to stockholders, even in the midst of a downturn."
In February 2007, the board of directors authorized the repurchase of $7.5 billion of company stock, and in December 2011, it extended the authorization through December 2015. Through the end of the second quarter of 2013, $4.8 billion of the $7.5 billion authorization was spent.
mikeon88 發表於 2013-7-30 14:23
難怪股價漲不停 ！
上次MHFI股價被打下來，也宣佈買回庫藏股。
每次都跟盈再表算得差不多。
Josephchu0616 發表於 2013-7-30 15:26
他們給經理人相當約5千5百萬股（約9-10%的流通股數）的options，exercise 價格約53元，即使repurchase後股數還是很多，Coach也有類似現象，5年買回了快20%的股票，但management exercise 之後只剩減少9%。公司很大方。
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