March 9, 2018 / 1:08 PM / 9 months ago

BRIEF-Gentex Announces Capital Allocation Strategy

March 9 (Reuters) - Gentex Corp:

* GENTEX ANNOUNCES CAPITAL ALLOCATION STRATEGY, ADDITIONAL SHARE REPURCHASE AUTHORIZATION AND 10% INCREASE IN QUARTERLY CASH DIVIDEND

* GENTEX - TARGETED TOTAL CASH POSITION LOWERED FROM $700 MILLION TO $525 MILLION

* GENTEX CORP - TARGETED SHARE REPURCHASE AUTHORIZATION OF ABOUT $425 MILLION FOR CALENDAR YEAR 2018

* GENTEX - DIVIDEND INCREASE OF 10 PERCENT TO $.44 PER SHARE ANNUALLY IS NOW EFFECTIVE

* GENTEX - BOARD APPROVED SHARE REPURCHASE AUTHORIZATION OF 20 MILLION SHARES IS IN ADDITION TO PRIOR BUYBACK

* GENTEX - CAPITAL ALLOCATION STRATEGY INCLUDES DEBT REPAYMENT OF $78 MILLION DURING FIRST THREE QTRS OF 2018

* GENTEX - BOARD AUTHORIZED MANAGEMENT TO SECURE LINE OF CREDIT OF UP TO ADDITIONAL $150 MILLION Source text for Eikon: Further company coverage:

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