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.
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