Tenneco Inc. (TEN) Announces 600,000 Share Buyback Plan
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Price: $42.82 +0.99%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 5.1%
EPS Growth %: +270.1%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 5.1%
EPS Growth %: +270.1%
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Tenneco Inc. (NYSE: TEN) announced that the company’s board of directors has approved a share repurchase program, authorizing the repurchase of up to 600,000 shares of the company’s outstanding common stock over the next 12 months. The repurchase program is intended to offset dilution from shares of restricted stock and stock options that were issued to employees in 2012 under Tenneco’s long-term compensation plan.
Tenneco completed a similar repurchase of common stock in 2011 as the company expands its options for using cash while remaining committed to further improving its financial position and investing in strategic initiatives.
Tenneco completed a similar repurchase of common stock in 2011 as the company expands its options for using cash while remaining committed to further improving its financial position and investing in strategic initiatives.
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