Syntel, Inc. (SYNT) Announces $10M Stock Buyback Plan
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Syntel, Inc. (Nasdaq: SYNT) announced that its Board of Directors has authorized a stock repurchase plan under which the Company may repurchase shares of common stock with a total value not to exceed $10,000,000.00.
Repurchases under the Company’s new program may be made in open market or privately negotiated transactions or through a Rule 10b5-1 plan in compliance with Securities and Exchange Commission Rule 10b-18, subject to market conditions, applicable legal requirements, and other relevant factors. Any repurchased common stock will be available for use in connection with the Company's incentive plan and for other corporate purposes.
Syntel had 84,100,928 shares of common stock issued and outstanding as of September 30, 2016.
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