Yahoo announces it will buy back additional $2-bn shares
28 March 2015 11:28 PM GMT
Tech giant Yahoo will buy back additional shares worth $2 billion as it looks to return more value to shareholders.
In 2013, the US-based company had announced a share repurchase programme worth $5 billion. "On March 26, 2015, the Board of Directors of Yahoo Inc. approved an additional share repurchase programme of $2 billion, which will expire on March 31, 2018," Yahoo said in a regulatory filing on Thursday.
The amount of shares of common stock authorised to be repurchased under the New Repurchase Programme is in addition to the amount remaining under the company's existing stock repurchase programme announced in November 2013, which expires in December 2016, the filing with US SEC (Securities and Exchange Commission) added.
Market insiders said the exercise is not only to provide more gains to shareholders, but also to shore up the value of its stocks and assure investors about the future growth and stability of the firm. Share of Yahoo closed yesterday at $47.47 a piece from $44.2 on March 25.
Its highest share price closing in the last three months was $50.86 a piece on December 26, 2014 and the lowest was $42.5 on March 11, 2015.
In 2013, the US-based company had announced a share repurchase programme worth $5 billion. "On March 26, 2015, the Board of Directors of Yahoo Inc. approved an additional share repurchase programme of $2 billion, which will expire on March 31, 2018," Yahoo said in a regulatory filing on Thursday.
The amount of shares of common stock authorised to be repurchased under the New Repurchase Programme is in addition to the amount remaining under the company's existing stock repurchase programme announced in November 2013, which expires in December 2016, the filing with US SEC (Securities and Exchange Commission) added.
Market insiders said the exercise is not only to provide more gains to shareholders, but also to shore up the value of its stocks and assure investors about the future growth and stability of the firm. Share of Yahoo closed yesterday at $47.47 a piece from $44.2 on March 25.
Its highest share price closing in the last three months was $50.86 a piece on December 26, 2014 and the lowest was $42.5 on March 11, 2015.
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