Johnson Controls boosts stock buyback program by $1 billion

Johnson Controls International PLC said Thursday it has approved a $1 billion increase to its stock repurchase program. The diversified industrial technologies company said it had $200 million remaining in its previous share buyback program. The announcement comes a day after the company raised its quarterly dividend by 4%. The stock gained 0.8% in morning trade. It has lost 8.9% year to date, while the SPDR Industrial Select Sector ETF has rallied 18.6% and the S&P 500 has gained 17.5%.

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