Woodward announces $200M stock repurchase program

FORT COLLINS – Woodward Inc. (NASDAQ: WWD) announced Wednesday a stock repurchase program in which as many as $200 million in shares will be bought in the open market and in private transactions.

The repurchase program, which will expire in July 2016, will replace an existing program scheduled to expire this month. Woodward bought about $100 million of stock under the current program.

“The new stock repurchase program preserves our flexibility to strategically use our cash flow to repurchase Woodward shares and return cash to shareholders,” Woodward CFO Bob Weber said in a filing with the U.S. Securities and Exchange Commission.

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Woodward also said Wednesday that on Sept. 3 it would pay an 8-cent dividend to shareholders of record as of Aug. 20.

Woodward will announce its third-quarter earnings Thursday.