EAST AURORA, N.Y.--(BUSINESS WIRE)--Moog Inc. (NYSE: MOG.A and MOG.B) announced today that its Board of Directors has approved a share repurchase program.

Under the authorization, the Company will be able to acquire an aggregate of 3,000,000 shares of its Class A and Class B common stock at management’s discretion. The timing of repurchases will depend upon several factors, including capital deployment priorities and market and business conditions. The program may be discontinued at any time.

“Our cash flow was very strong in FY 2020," said John Scannell, Chairman and CEO. "Share repurchases afforded us the opportunity to return $215 million of value to our shareholders during the year and we are pleased to have the flexibility to continue this program.”

The transactions will be made in accordance with rules and regulations of the U.S. Securities and Exchange Commission and other rules that govern such purchases.