Woodward (WWD) Announces $250M Buyback Plan

Woodward, Inc. (Nasdaq: WWD) today announced its plan to repurchase $250 million of outstanding shares over the next 12 months, under a recently approved Board authorization. The share repurchases reflect the return of capital associated with Woodward's aerospace joint venture with GE Aviation which was announced today in a separate press release. The net impact on Woodward earnings per share of the joint venture and share repurchases is expected to be accretive.

"We are pleased to announce this return of capital to our shareholders," said Thomas A. Gendron, Chairman and Chief Executive Officer. "This represents a significant monetization of future cash flows related to several long-term programs."

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