LPL Financial (LPLA) Completes $250M Accelerated Buyback Early
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LPL Financial Announces Early Completion of Accelerated Share Repurchase Plan
December 10, 2015 10:52 PM ESTSAN DIEGO, Dec. 10, 2015 (GLOBE NEWSWIRE) -- LPL Financial Holdings Inc. (the Company) (NASDAQ: LPLA), parent of leading retail investment advisory firm and independent broker/dealer LPL Financial LLC, today announced early completion of its previously announced accelerated share repurchase plan (ASR).
We have now completed the first step of our previously announced $500 million share repurchase program several months ahead of our expected timeline, said Matthew Audette, chief financial officer. We purchased 5.6 million1 of our shares for $250 million resulting in an average purchase price of $44.46 per share.
The Company entered into a three-to-six month, $250 million... More
