UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
__________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported) February 28, 2017
AVNET, INC.
(Exact name of registrant as specified in its charter)
New York |
| 1-4224 |
| 11-1890605 |
(State or other jurisdiction |
| (Commission |
| (IRS Employer |
Of incorporation) |
| File Number) |
| Identification No.) |
2211 South 47th Street, Phoenix, Arizona |
| 85034 |
(Address of principal executive offices) |
| (Zip Code) |
(480) 643-2000
(Registrant’s telephone number, including area code)
N/A
(Former name and former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On February 28, 2017, Avnet, Inc. (the “Company”) announced that the Board of Directors approved adding $500,000,000 to the Company’s stock repurchase program. The Company may repurchase shares from time to time in the open market, privately negotiated transactions, block trades, accelerated share repurchase transactions or by any combination of such method. The Company may terminate or limit the stock repurchase program at any time without prior notice.
In addition, the Company announced that its Board of Directors approved an increase in the quarterly cash dividend to $0.18 per share of common stock. This cash dividend will be payable on March 28, 2017, to shareholders of record on March 14, 2017.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
8 |
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Exhibit |
| Description |
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99.1 |
| Press Release, dated February 28, 2017. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Date: February 28, 2017 |
| AVNET, INC. | ||
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| Registrant | ||
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| By: |
| /s/ Kevin Moriarty |
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| Name: Kevin Moriarty |
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| Title: Senior Vice President and |
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| Chief Financial Officer |