Xylem authorizes up to $1.5B share buyback program

Xylem (XYL) announced that its Board of Directors has authorized a new share repurchase program of its common stock of up to $1.5 billion, effective immediately. Repurchases may be made from time to time on the open market or in privately negotiated transactions. “This authorization underscores our confidence in Xylem’s strategy and our ability to generate strong, sustainable cash flow,” said Matthew Pine, Xylem’s president and CEO. “We remain committed to a balanced approach to capital allocation: investing in organic and inorganic growth while opportunistically returning capital to shareholders in a disciplined manner that supports long-term value creation.”