Arrow Electronics to buy back shares
Long Island Business News, Feb 28, 2006 by Henry E. Powderly II
Computer products manufacturer Arrow Electronics Inc. said Tuesday that its board of directors have approved a repurchase plan for up to $100 million of its common stock to replenish shares issued through compensation plans. Arrow said the shares will refill Arrow's stockpile, depleted in connection with stock-based compensation.Shares of Arrow (NYSE: ARW) fell 3 percent, or $1.12 per share, to $34.47 in late-morning trading.Also, Arrow announced Tuesday that Richard S.
Hill will join its board of directors. Hill is chief executive and chairman of San Jose, Calif.-based Novellus Systems Inc., a maker of computer chip materials.
Copyright 2006 Dolan Media Newswires
Provided by ProQuest Information and Learning Company. All rights Reserved.
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