By Kelly Cloonan
Fortive has authorized a new special purpose share buyback worth $550 million.
The company said Tuesday the plan will use proceeds from an approximately $1.15 billion cash dividend from a pending separation of Ralliant, its precision technologies segment, together with any other cash the company receives related to the separation.
Ralliant is expected to spin off from the company on June 28, Fortive's Chief Executive James Lico said.
The company also said its board has approved an increase of about 15.63 million additional shares to its existing general share buyback plan. Now, there are about 20 million shares left under the plan, which has no expiration date, the company said.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
May 27, 2025 17:16 ET (21:16 GMT)
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