Cognizant (CTSH) Announces $600M Accelerated Buyback
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Cognizant Launches $600 Million Accelerated Share Repurchase
March 7, 2019 6:01 AM ESTTEANECK, N.J., March 7, 2019 /PRNewswire/ -- Cognizant Technology Solutions Corporation (Nasdaq: CTSH), today announced that it has entered into accelerated share repurchase ("ASR") agreements with HSBC Bank USA, National Association and Societe Generale to repurchase an aggregate of $600 million of Cognizant's Class A common stock. The ASR announced today is part of the Company's previously announced capital return plan to utilize approximately 50% of its global free cash flow1 on an annual basis for share repurchases and dividends.
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