Motorola announces accelerated share buyback

Jul 24 2006 - 01:15 PM ET | Backpage, Motorola

Motorola announced that it is ahead of schedule with its existing share repurchase plan. The plan was announced last year and is aproximately two years ahead of schedule. The board of directores has authorized another buyback program, up to $4.5 billion worth over the next three years. With current share prices that's 9% of the company.

Motorola has net cash reserves of $10.1 billion.