Xylem Inc. announces new $500 million share repurchase authorization

Xylem Inc. today announced that its Board of Directors has authorized a new share repurchase program of its common stock of up to $500 million, effective immediately. These repurchases are expected to be made from time to time in the open market or privately negotiated transactions.

"With our strong balance sheet and projected cash flows, we are well positioned and committed to making both organic and inorganic investments to drive growth,” said Patrick Decker, Xylem President and CEO. “The addition of this new share repurchase program, along with our dividend, only underscores Xylem’s commitment to enhancing shareholder value. We look forward to sharing more about our overall strategy for accelerating growth, including our disciplined approach to balanced capital deployment, at our Investor Day next month.”

The Company intends to be opportunistic in its repurchases of stock based on market conditions and other factors, and may suspend the repurchase program at any time.

Xylem will host an Investor Day on September 24, 2015, in New York City.