Apr
20
Genentech extends buyback program by $2 billion
Posted by Administrator under Genentech
Genentech (NYSE: DNA) announced a $2 billion extension of its current $6 billion stock repurchase program that is authorized through June 2008.
The board kept the program limited to a total of 100 million shares, of which, the company had completed the repurchase of 67 million shares through March 2007.
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PAYOUT YIELD ANALYSIS
Because the purpose of the program is to offset dilution from employee stock plans, we are not projecting a Payout Yield to shareholders from the current buyback program.
- Payout Yield Staff
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