People's United Financial (PBCT) Announces Buyback of 33.6 Million Shares
- Wall St. lower as earnings from some big names disappoint
- Unusual 11 Mid-Day Movers 10/25: (CWEI) (NXTD) (EYES) Higher; (DPRX) (CRBP) (CALA) Lower (more...)
- General Motors (GM) Tops Q3 EPS by 28c
- Procter & Gamble (PG) Tops Q1 EPS by 5c
- DuPont (DD) Tops Q3 EPS by 14c; Boosts FY16 EPS Outlook; Says Continuing to Work with Regulators
People's United Financial, Inc. (NASDAQ: PBCT) today announced that its Board of Directors approved a new share repurchase authorization. Earlier this quarter, the Company completed its previous share repurchase authorization, announced in October 2011, by purchasing 18 million shares (at a weighted average price of $12.08 per share) since that time. Under the new authorization, up to 10 percent of the Company's common shares outstanding, or 33.6 million shares, can be repurchased, either directly or through agents, in the open market at prices, times and terms satisfactory to management. The pending share repurchase activity will be financed using cash on hand and the proceeds from one or more debt financings. The timing of share repurchases and debt financings will be subject to market conditions.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IBM (IBM) Declares $1.40 Quarterly Dividend; $3B Stock Buyback
- UPDATE: Corelogic (CLGX) Tops Q3 EPS by 7c, Expects to Achieve Upper Ends of FY16 Guidance
- Southern Missouri Bancorp (SMBC) Reports Prelim Q1 EPS of 50c
Create E-mail Alert Related CategoriesStock Buybacks
Related EntitiesStock Buyback
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!