People's United Financial (PBCT) Announces Buyback of 33.6 Million Shares
- Top 10 News for 03/23 - 03/27: Kraft/Heinz Mega Food Merger, SanDisk Warns, Biotech Bubblicious
- Intel (INTC) in Talks to Buy Altera Corp (ALTR) - WSJ
- Dow Chemical (DOW) to Separate Chlor-Alkali Unit, Merge it with Olin (OLN)
- UPDATE: BlackBerry (BBRY) Posts Q4 adj.-EPS of 4c
- Unusual 11 Mid-Day Movers 03/27: Higher GBSN, OLN, OXM; Lower OHRP, MOLG, APDN (more...)
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
- Finish Line (FINL) Adds New 5M Share Repurchase Plan
- SLI Industries (SLI) Reports Up to $20M Modified Dutch Auction Tender
- Red Hat (RHT) Announces $500M Common Buyback
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!