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Fulton Financial (FULT) Board Approves 8 Million Share Repurchase

January 3, 2013 8:52 AM EST Send to a Friend
Fulton Financial Corporation (NASDAQ: FULT) announced that its board of directors has approved the repurchase of up to eight million shares, or approximately 4.0% of the company's outstanding shares, through June 30, 2013. As of January 2, the Corporation had approximately 199 million shares of common stock outstanding.

As permitted by securities laws and other legal requirements and subject to market conditions and other factors, purchases may be made from time to time in the open market at prevailing prices. The repurchase program may be discontinued at any time.

Under the Corporation's previous 2012 repurchase program, announced on June 19, 2012, the Corporation's Board had authorized the Corporation to repurchase up to five million shares, or approximately 2.5% of the company's shares, through December 31, 2012. Repurchases under the 2012 program were also to be made as permitted by securities laws and other legal requirements and subject to market conditions and other factors. Under the 2012 repurchase program, the Corporation repurchased 2,114,996 shares. Customary trading restrictions associated with the previously announced divestiture of the Corporation's Global Exchange Group division and quarterly earnings announcements limited the Corporation's ability to repurchase additional shares authorized by the Board in the 2012 repurchase program.




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