Trimble To Buy Back Up To $800 Mln Of Shares

(RTTNews) - Trimble Inc. (TRMB), a technology company, Tuesday announced its decision to buy back up to $800 million of shares.

Trimble said the new authorization replaces the old one, and will be effective immediately.

"We previously announced that we expect to repay $1.1 billion of debt and repurchase $400 million worth of shares with the proceeds from the proposed AGCO JV transaction, shortly following the close of the JV, which is expected to occur in the second quarter of 2024. Today's announcement maintains that plan while expanding our expectations for total repurchase activity in 2024," said Rob Painter, Trimble's CEO.