VeriFone Systems (PAY) Announces $200M Common Stock Buyback Plan

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Go back to VeriFone Systems (PAY) Announces $200M Common Stock Buyback Plan

Verifone Announces $200 Million Share Repurchase Authorization

September 28, 2015 6:30 AM EDT

SAN JOSE, Calif.--(BUSINESS WIRE)-- VeriFone Systems, Inc. (NYSE: PAY) today announced that its board of directors has authorized a $200 million share repurchase program.

The authorization is the first in Verifones history and represents approximately 6.5 percent of the companys outstanding shares based on current trading prices. It provides Verifone with flexibility to repurchase shares opportunistically from time to time, based on market and business conditions, the companys ongoing cash flow generation, and other factors.

Verifone is committed to the execution of our strategy in support of our clients' objectives,... More