Arrow OK's Buyback of $100M of Stock

By Associated Press December 11, 2007 Comments (0)

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Electronics and computer products distributor Arrow Electronics Inc. said Tuesday its board of directors authorized the repurchase of another $100 million of common stock.

The buyback is in addition to the $100 million of common stock authorized for repurchase in February 2006.

Arrow "expects to repurchase shares in such amounts as to offset the dilution from the exercise of stock options and other stock-based compensation plans," the company said in a news release.

To date, Arrow has repurchased $84.2 million of common stock.

Shares fell 25 cents to $38.59 in afternoon trading.

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