Adient raises share repurchase authorization by $400 million to $1 billion
ADNT•Adient increased its share repurchase authorization by $400 million to $1 billion. It also adopted a Tax Benefits Preservation Plan covering tax attributes that could offset approximately $3.5 billion of future taxable income.
1. Repurchase authorization expanded
Adient's board increased the share repurchase authorization by $400 million, bringing it to $1 billion. The remaining authorization is $435 million; the company has repurchased $565 million of shares under the program launched in November 2022. The board also adopted a Tax Benefits Preservation Plan covering tax attributes that could offset approximately $3.5 billion of future taxable income. Plan rights generally become exercisable if a person or group acquires beneficial ownership of 4.95% or more without prior board approval.
