Cognex Increases Quarterly Cash Dividend to $0.10; Authorizes New Stock Buyback Program of up to $80M

Cognex Corporation CGNX announced today that the company's Board of Directors declared a quarterly cash dividend of $0.10 per share, payable on December 16, 2011, to all shareholders of record at the close of business on December 2, 2011. This dividend represents an increase of $0.01 per share, or 11%, over the $0.09 per share dividend paid in the prior quarter. The company's Board of Directors also authorized the repurchase of up to $80 million of Cognex common stock in open market transactions to help reduce share dilution associated with equity incentive plans. This new authorization will commence once Cognex completes an existing $50 million repurchase program, of which approximately $20 million remains available.