SGI (SGI) Approves $15M Buyback Plan
- Wall St falls as lower oil prices weigh on energy stocks
- ADP Employment Change (Aug) 177K vs 175K Expected
- Medivation (MDVN) Bidding War Was Even Hotter Than the Market Thought
- Palo Alto Networks (PANW) Reports In-Line Q4 EPS; Guides FY17 EPS Above Views; Approves $500M Stock Buyback
- Pre-Open Stock Movers 08/31: (CHS) (ININ) (VEEV) Higher; (AVAV) (PANW) (HRB) Lower (more...)
SGI's (Nasdaq: SGI) board of directors has approved a plan to repurchase SGI common stock with a market value of up to $15 million. The company believes that repurchases of its shares represent an effective use of available cash and future cash flows. Common stock may be repurchased in the open market or through negotiated transactions, including Rule 10b5-1 trading plans that would enable the company to repurchase its shares during periods outside of its normal trading windows. The timing of purchases and the exact number of shares to be purchased will depend on market conditions. The repurchase program expires December 31, 2014. Purchases will cease if the authorized funds are spent or the program is discontinued. Under the plan SGI is not obligated to acquire any particular amount of stock, and the program may be suspended or terminated at any time at the company's discretion.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- SGI Opens European Research Centre in Collaboration With the Irish Centre for High-End Computing
- Knot Offshore Partners (KNOP) Extends Common Unit Buyback Plan
- Aspen Technology (AZPN) Enters $100M Accelerated Stock Repurchase Program
Create E-mail Alert Related CategoriesStock Buybacks
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!