Otis Worldwide Approves $2 Bln Buyback Plan

(RTTNews) - Otis Worldwide Corporation (OTIS) Thursday announced that its Board of Directors has authorized the repurchase of $2 billion of Common Stock under a share repurchase program, effective January 16, 2025.

In conjunction with the new authorization, the Board of Directors cancelled the remaining approximately $100 million authorized under the prior program, approved December 1, 2022.

Share repurchases may take place from time to time, subject to market conditions and at the company's discretion, in the open market, through privately negotiated transactions or other means.