Autodesk (ADSK) Increases Buyback Plan by 30M Shares

September 19, 2016 4:09 PM EDT

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Autodesk, Inc. (NASDAQ: ADSK) today announced a program to repurchase up to 30 million shares of the company's common stock, in addition to the approximately 1.5 million shares that remained at the end of the second quarter of fiscal 2017 under previously announced share repurchase programs. The repurchase program provides Autodesk with the ability to cover dilution and reduce shares outstanding over time.

Under the share repurchase program, Autodesk may repurchase shares from time to time through a variety of means. The share repurchase program does not have an expiration date and the pace and timing of repurchases will depend on factors such as cash generation from operations, available surplus, the volume of employee stock plan activity, cash requirements for acquisitions, economic and market conditions, stock price and legal and regulatory requirements.

In the first half of fiscal 2017, Autodesk repurchased approximately 4.8 million shares of its common stock at an average price of $56.20 per share.

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