Moody’s Corporation Announces $2 Billion Share Repurchase

Moody’s Corporation (NYSE: MCO) announced a new $2 billion share repurchase program. Moody’s expects to commence repurchases under the new program immediately following completion of the existing program.  The company did not specify the source of funds for  the repurchase. Moody’s Board of Directors also declared a regular quarterly dividend of 8 cents per share [...]

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Praxair Board Authorizes $1 Billion Share Repurchase Program

Praxair, Inc. (NYSE: PX) will repurchase up to $1 billion of its common stock over the next two years. The company cited a strong balance sheet and growing free-cash-flow generation from operations. The purchases will be financed by available cash and debt and replaces the repurchase program in effect since 1997. The board of directors also [...]

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Lennox International Announces New $500 Million Share Repurchase Plan

Lennox International Inc. (NYSE: LII) announced a share repurchase plan for $500 million to be completed by the end of Q3 2008.   The company cited a commitment to improving shareholder returns and flexibility to pursue strategic opportunities to grow the business. Lennox International is a global leader in the heating, air conditioning, and refrigeration [...]

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Expedia backpedals on ASR plans; $1 billion in shareholder value destroyed

Citing unacceptable terms in the current debt market, Expedia’s (NYSE: EXPE) chairman Barry Diller announced that the company is scaling back its stock repurchase program to a maximum of 25 million shares, down from the 116 million shares announced in June. The market reacted unfavorably to the announcement, driving the share price down over 12% [...]

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State Street Corporation Announces $1 Billion Accelerated Share Repurchase

State Street Corporation (NYSE: STT) announced a $1 billion accelerated share repurchase of its common stock with an affiliate of Lehman Brothers Inc. The transaction is expected to be completed within the next six months. Based on the closing per share sale price of State Street’s common stock on the New York Stock Exchange on July 19, [...]

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Rohm and Haas Announces $1 Billion ASR as part of a $2 Billion Share Repurchase Program

Rohm and Haas Company (NYSE: ROH) announced the repurchase of up to $2 billion of common stock in a two stage action. The company will complete its existing share repurchase program and execute the ASR in third quarter, reducing the number of shares to 195 million by the end of September 2007. The ASR will [...]

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GE Increases 2007 Share Repurchase Program to $14 billion

GE (NYSE: GE) increased its share repurchase program to $14 billion for 2007 and now expects that $12 billion of the program will be completed between now and year end. GE is a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. ### PAYOUT YIELD ANALYSIS With 10.3 [...]

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Paychex Raises Dividend by 43% and Announces $1 Billion Stock Repurchase Program

Paychex, Inc. (NASDAQ:PAYX) raised its dividend by 43%, from $.21 per share to $.30 per share, and announced a stock repurchase of up to $1.0 billion. The company commented “We don’t believe there’s any better investment than ourselves.” Paychex, Inc. is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to [...]

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Eaton Vance Corp. Authorizes Repurchase of up to 8 million Shares

Eaton Vance Corp. (NYSE: EV) announced a new share repurchase authorization of up to 8 million shares. In addition, the company declared a quarterly dividend of $0.12 per share on its common stock. Eaton Vance Corp. is a Boston-based investment management firm. ### PAYOUT YIELD ANALYSIS With 126 million shares outstanding, the 8 million share [...]

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Amgen Board Authorizes $5 Billion Increase in Stock Repurchase Program

Amgen (NASDAQ:AMGN) raised its share repurchase program by $5 billion. With $1.5 billion remaining under the previous program, the total repurchase authorization is now $6.5 billion. Amgen discovers, develops and delivers innovative human therapeutics. ### PAYOUT YIELD ANALYIS With 1.16 billion shares outstanding, the Total Payout of the $6.5 billion program will be $5.60 per share if completed over [...]

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