Motorola Solutions Board of Directors Increases Quarterly Dividend; Increases Stock Repurchase Program Authorization

Rhea-AI Summary

Motorola Solutions, Inc. (NYSE: MSI) announced an 11% increase in its regular quarterly dividend to 98 cents per share. The next dividend will be payable on January 12, 2024. The company also approved a $2 billion increase to its share repurchase program, bringing the total authorization to $18 billion with no expiration date.

CHICAGO--(BUSINESS WIRE)-- 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.

About Motorola Solutions

Motorola Solutions is solving for safer. We build and connect technologies to help protect people, property and places. Our solutions enable the collaboration between public safety agencies and enterprises that’s critical for a proactive approach to safety and security. Learn more about how we’re solving for safer communities, safer schools, safer hospitals, safer businesses – safer everywhere – at www.motorolasolutions.com.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of applicable federal securities law. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and generally include words such as “believes,” “expects,” “intends,” “anticipates,” “estimates” and similar expressions. These forward-looking statements are statements other than statements of historical fact and may include, among other things, statements in relation to the company’s current plans regarding share repurchases and dividends. All information set forth in this release is as of the date hereof. The company does not intend, and undertakes no duty, to update this information to reflect future events or circumstances. Actual results are subject to a number of risks and uncertainties and may differ materially from the current expectations and beliefs discussed in this press release. Certain potential factors, risks and uncertainties that could affect the company’s business and financial results and cause actual results to differ materially from those expressed or implied in any forward-looking statements include those under the heading “Risk Factors” in the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022 and its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023, each of which is on file with the Securities and Exchange Commission (“SEC”) and available at the SEC’s website at www.sec.gov.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231116654875/en/

Media Contact

Alexandra Reynolds

Motorola Solutions

Alexandra.Reynolds@motorolasolutions.com

+1 312 965 3968

Investor Contact

Tim Yocum

Motorola Solutions

Tim.Yocum@motorolasolutions.com

+1 847 576 6899

Source: Motorola Solutions, Inc.

FAQ

What is Motorola Solutions, Inc.'s (NYSE: MSI) new quarterly dividend?

Motorola Solutions, Inc.'s new quarterly dividend is 98 cents per share, representing an 11% increase.

When will the next dividend payment be made?

The next quarterly dividend payment will be made on January 12, 2024.

How much has Motorola Solutions, Inc. (NYSE: MSI) increased its share repurchase program by?

Motorola Solutions, Inc. has increased its share repurchase program by $2 billion, bringing the total authorization to $18 billion with no expiration date.

What was the remaining repurchase authority under the previous program at the end of the third quarter of 2023?

Approximately $599 million in repurchase authority remained under the previous $16 billion share repurchase program at the end of the third quarter of 2023.