ZEELAND, MI – Herman Miller reported that its Board of Directors has expanded the company’s stock repurchase program by authorizing further share repurchases of $300 million, in addition to the approximately $73 million remaining from a previous authorization.
Brian Walker, CEO, stated, “This additional authorization reflects our confidence that the strategy we are pursuing will continue to drive long-term growth and generate strong cash flows. One of the ways we intend to create value for shareholders is by further leveraging the strength of our cash flow and balance sheet. This authorization provides us with the opportunity to enhance shareholder value through continued stock repurchases, which over the past ten years have been used to return over $1 billion dollars to our shareholders.”
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