Akamai Technologies (AKAM) Increases Stock Buyback Plan by $250 Million
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Akamai Technologies, Inc. (NASDAQ: AKAM) has approved a $250 million increase in the current authorized share repurchase program, raising the total authorized amount under the program to $400 million for the twelve-month period ending in early May 2012.
During the second quarter of 2011, the Company repurchased approximately 1.5 million shares of common stock for $50.5 million at an average price of $32.90 per share. As of June 30, 2011, the Company had repurchased 8.3 million shares of common stock for $251.5 million at an average price of $30.15 per share under the share repurchase programs initially approved by the Board of Directors in April 2009.
During the second quarter of 2011, the Company repurchased approximately 1.5 million shares of common stock for $50.5 million at an average price of $32.90 per share. As of June 30, 2011, the Company had repurchased 8.3 million shares of common stock for $251.5 million at an average price of $30.15 per share under the share repurchase programs initially approved by the Board of Directors in April 2009.
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