Benzinga | Nov 6, 2020 07:35AM EST

Analog Devices Says Will Reinstate Its Share Purchase Program Beginning On November 9; Additional $1.9B Remains Available For Repurchase Under Current Authorized Program

Frmo Co. Filing:

Analog Devices, Inc. (the "Company") will reinstate its share purchase program (the "Repurchase Program") beginning on November 9, 2020. The Company previously disclosed that it had temporarily suspended the Repurchase Program beginning in March 2020 as a result of the global macroeconomic environment, and subsequently continued the suspension given the Company's proposed acquisition of Maxim Integrated Products, Inc. Under the Repurchase Program, the Company may repurchase outstanding shares of its common stock from time to time on the open market or through privately negotiated transactions. The timing and number of shares repurchased is subject to the discretion of Company management.

At the time the Repurchase Program was suspended, the Company had repurchased a total of approximately 156.1 million shares of its common stock for approximately $6.3 billion. An additional $1.9 billion remains available for repurchase under the current authorized program.