{"id":386224,"date":"2020-11-20T16:33:18","date_gmt":"2020-11-20T21:33:18","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=386224"},"modified":"2020-11-20T16:33:18","modified_gmt":"2020-11-20T21:33:18","slug":"moog-announces-share-repurchase-program","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/moog-announces-share-repurchase-program\/","title":{"rendered":"Moog Announces Share Repurchase Program"},"content":{"rendered":"

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Moog Announces Share Repurchase Program<\/b><\/p>\n

EAST AURORA, N.Y.–(BUSINESS WIRE<\/a>)–
\nMoog Inc. (NYSE: MOG.A and MOG.B) announced today that its Board of Directors has approved a share repurchase program.\n<\/p>\n

\nUnder the authorization, the Company will be able to acquire an aggregate of 3,000,000 shares of its Class A and Class B common stock at management\u2019s discretion. The timing of repurchases will depend upon several factors, including capital deployment priorities and market and business conditions. The program may be discontinued at any time.\n<\/p>\n

\n\u201cOur cash flow was very strong in FY 2020,” said John Scannell, Chairman and CEO. “Share repurchases afforded us the opportunity to return $215 million of value to our shareholders during the year and we are pleased to have the flexibility to continue this program.\u201d\n<\/p>\n

\nThe transactions will be made in accordance with rules and regulations of the U.S. Securities and Exchange Commission and other rules that govern such purchases.\n<\/p>\n

Cautionary Statement <\/b><\/p>\n

\nInformation included or incorporated by reference in this report that does not consist of historical facts, including statements accompanied by or containing words such as \u201cmay,\u201d \u201cwill,\u201d \u201cshould,\u201d \u201cbelieves,\u201d \u201cexpects,\u201d \u201cexpected,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cprojects,\u201d \u201capproximate,\u201d \u201cestimates,\u201d \u201cpredicts,\u201d \u201cpotential,\u201d \u201coutlook,\u201d \u201cforecast,\u201d \u201canticipates,\u201d \u201cpresume\u201d and \u201cassume,\u201d are forward-looking statements. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company\u2019s current views with respect to certain current and future events and financial performance and are not guarantees of future performance. This includes but is not limited to, the Company\u2019s expectation and ability to pay a quarterly cash dividend on its common stock in the future, subject to the determination by the board of directors, and based on an evaluation of company earnings, financial condition and requirements, business conditions, capital allocation determinations and other factors, risks and uncertainties. The impact or occurrence of these could cause actual results to differ materially from the expected results described in the forward-looking statements. These important factors, risks and uncertainties include:\n<\/p>\n

COVID-19 Pandemic Risks<\/b><\/p>\n