Cognizant (CTSH) Announces Accelerated $600M Share Buyback Plan
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Cognizant Launches $600 Million Accelerated Share Repurchase
June 15, 2018 6:00 AM EDTTEANECK, N.J., June 15, 2018 /PRNewswire/ -- Cognizant Technology Solutions Corporation (Nasdaq: CTSH), today announced that it has entered into an accelerated share repurchase ("ASR") agreement with Morgan Stanley & Co. LLC to repurchase an aggregate of $600 million of Cognizant's Class A common stock. In February 2017, the Company announced a plan to return $3.4 billion to stockholders by the end of 2018 through a combination of $2.7 billion in stock repurchases and $0.7 billion in dividends. With the ASR announced today, the Company will deliver early on its commitment as to stock repurchases with the anticipated final settlement of the ASR... More
