FedEx (FDX) Boost Buyback Program by 10M Shares

March 20, 2013 7:36 AM EDT
FedEx Corp. (NYSE: FDX) has approved a buyback plan of up to 10 million shares.

These shares augment the remaining 188 thousand shares authorized for purchase under existing share repurchase programs. It is expected that the additional share authorization will primarily be utilized to offset equity compensation dilution over the next several years. Purchases may be made in the open market and in negotiated or block transactions. FedEx had 317 million shares outstanding as of February 28, 2013.

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