Dover Corporation announces $500 million accelerated share repurchase program

Dover Corporation (NYSE:DOV) established an accelerated share repurchase program with JPMorgan Chase Bank to buy back $500 million of its common stock, the company announced Monday in a statement based on a filing with the Securities and Exchange Commission. The buyback represents approximately 2% of Dover’s current $25.06 billion market capitalization. InvestingPro data shows the company maintains a "GOOD" overall financial health score of 2.63, suggesting it’s well-positioned for this capital allocation decision.

The repurchase is being conducted under a board authorization from August 2023, which allows for the repurchase of up to 20 million shares. Dover expects to receive approximately 2,334,010 shares on Wednesday, representing a substantial majority of the shares anticipated to be retired during the program.

The company plans to fund the repurchase using cash on hand. The final number of shares to be retired will be determined by the average of the daily volume weighted average price of Dover’s common stock during the program’s term, less a discount and subject to possible adjustments as outlined in the agreement. Final settlement of the program is expected in the second quarter of 2026, though the agreement allows for early termination in certain situations.

Dover’s common stock, as well as its 1.250% Notes due 2026 (NYSE:DOV 26) and 0.750% Notes due 2027 (NYSE:DOV 27), are listed on the New York Stock Exchange.

This information is based on a press release statement and the company’s SEC filing.

In other recent news, Dover Corporation reported its third-quarter 2025 earnings, revealing a stronger-than-expected performance with earnings per share (EPS) of $2.62, surpassing the forecasted $2.51. This represents a 4.38% surprise in EPS. However, the company’s revenue fell slightly short of expectations, recording $2.08 billion against the anticipated $2.11 billion. Despite the revenue miss, the market responded positively to Dover’s earnings report. Additionally, RBC Capital raised its price target for Dover to $198, citing margin strength, while maintaining a Sector Perform rating. In another development, Dover’s Board of Directors declared a regular quarterly cash dividend of $0.52 per share, payable on December 15, 2025, to shareholders of record as of November 28, 2025. These recent developments highlight Dover’s financial activities and market reception.

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