Arrow Electronics board approves plan to buy back up to $100 million of shares

Arrow board approves $100M share buyback plan

MELVILLE, N.Y. — Arrow Electronics, which makes components and computer products, said Monday its board has approved a plan to repurchase up to $100 million company shares.

Arrow said it will buy back shares to offset any share dilution from the company’s equity-based compensation plan.

As of Jan. 29, Arrow had about 119.8 million shares outstanding, according to a regulatory filing.

Shares of Arrow Electronics Inc. rose $1, or 3.5 percent, to $29.21 Monday. In the past 52 weeks, the stock has traded between $15 and $30.23