4 March 2022
Lumentum increases share repurchase authorization to $1bn
Lumentum Holdings Inc of San Jose, CA, USA (which designs and makes photonics products for optical networks and lasers for industrial and consumer markets) says that its board of directors has authorized an increase of its share repurchase program to $1bn which is currently underway and will now expire in May 2024. This supersedes the previous share repurchase program of $700m over two years that was announced in May 2021.
“Given our favorable growth outlook with expected double-digit revenue growth over the coming years, and our strong financial profile, we believe that this buyback program will enhance our shareholder value,” says president & CEO Alan Lowe.