Navient (NAVI) Approves $600M Common Stock Buyback Program

Navient (Nasdaq: NAVI) announced that its Board of Directors approved a new share repurchase program for up to $600 million of the company’s outstanding common stock. Effective Jan. 1, 2017, the share repurchase authorization permits the company to repurchase shares from time to time through a combination of open market repurchases, privately negotiated transactions, or accelerated share repurchase transactions. The program does not have an expiration date.

During 2016, the company acquired 59.6 million shares of common stock for $755 million, completing its previously announced share repurchase authorization program.

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