- Visteon Corp VC board of directors has authorized a share repurchase program of $300 million of common stock. The repurchase authorization will expire on Dec. 31, 2026.
- "This authorization demonstrates our board's confidence in Visteon's strategic growth plan as we deliver digital, software-defined, and electric product solutions that align with key trends in the industry," said CEO Sachin Lawande.
- Visteon expects to fund the repurchases through excess cash on hand and future cash flow generation. The company held $523 million in cash and equivalents as of Dec. 31, 2022.
- Visteon serves the mobility industry, dedicated to creating a connected and safe driving experience.
- Price Action: VC shares are trading higher by 0.79% at $166.28 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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