Electronic Arts (EA) Announces New $1B Stock Repurchaes Plan
In addition to earnings, Electronic Arts (NASDAQ: EA) announced that its Board of Directors has authorized a new program to repurchase up to $1 billion of EA’s common stock. This new stock repurchase program, which expires on May 31, 2017, supersedes and replaces the existing stock repurchase authorization approved by a special committee of EA’s Board of Directors in May 2014.
Under the program, EA may purchase stock in the open market or through privately negotiated transactions in accordance with applicable securities laws, including pursuant to pre-arranged stock trading plans. The timing and actual amount of the stock repurchases will depend on several factors including price, capital availability, regulatory requirements, alternative investment opportunities and other market conditions. EA is not obligated to repurchase any specific number of shares under the program and the repurchase program may be modified, suspended or discontinued at any time.