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Rogers Corporation today announced that its Board of Directors has authorized the Company to initiate a $100 million share repurchase program.
Bruce D. Hoechner, President and CEO commented: “Given the Company’s strong cash position, balance sheet and outlook, this program allows us to enhance shareholder value while retaining the ability to fund growth, both organically and through acquisitions.”
The program will become effective immediately, has no expiration date, and authorizes the repurchase of up to $100 million of shares of the Company’s capital stock. Repurchases may be effected from time to time through open market purchases, privately negotiated transactions and/or plans designed to comply with Rule 10b5-1 promulgated under the Securities Exchange Act of 1934, as amended.
About Rogers Corporation
Rogers Corporation (NYSE:ROG) is a global leader in engineered materials to power, protect, and connect our world. With more than 180 years of materials science experience, Rogers delivers high-performance solutions that enable clean energy, internet connectivity, safety and protection applications as well as other technologies where reliability is critical. Rogers delivers Power Electronics Solutions for energy-efficient motor drives, vehicle electrification and alternative energy; Elastomeric Material Solutions for sealing, vibration management and impact protection in mobile devices, transportation interiors, industrial equipment and performance apparel; and Advanced Connectivity Solutions for wireless infrastructure, automotive safety and radar systems. Headquartered in Connecticut (USA), Rogers operates manufacturing facilities in the United States, China, Germany, Belgium, Hungary, and South Korea, with joint ventures and sales offices worldwide. For more information, visit www.rogerscorp.com.