Motorola Solutions Board of Directors Increases Quarterly Dividend; Increases Stock Repurchase Program Authorization
Motorola Solutions, Inc. (NYSE: MSI) today announced that its board of directors has increased its regular quarterly dividend by 11% to 98 cents per share. The next quarterly dividend will be payable in cash on January 12, 2024, to shareholders of record at the close of business on December 15, 2023.
Additionally, the company also announced that its board of directors has approved a $2 billion increase to the share repurchase program, raising the total authorization since July 2011 to $18 billion, with no expiration date for the program. Under the company’s previously authorized $16 billion share repurchase program, approximately $599 million in repurchase authority remained at the end of the third quarter of 2023.
The company may continue to repurchase shares from time to time in the open market or in other privately negotiated transactions, subject to market conditions.