“We remain committed to returning cash to shareholders,” said IGT CEO
IGT completed its us$ 400 million accelerated stock buyback
2012-12-20
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(US).- IGT announced that it has completed its us$ 400 million accelerated stock buyback which was announced last June 14. Goldman, Sachs & Co. will have delivered 30.3 million shares (27.8 million in the fiscal 2012 and 2.5 million in the fiscal first quarter of 2013) to IGT at an average price of us$ 13.22 per share, representing over 10% of the total shares outstanding when the program commenced.
"In total, including dividends and shares repurchased, we returned over us$ 540 million to our shareholders and significantly reduced our share count in the 2012 fiscal year," said Patti Hart, CEO of IGT.
"As also evidenced by our recent 17% increase in our quarterly dividend, we remain committed to consistently returning cash to shareholders and confident in the outlook for continued strong financial performance of the company," Hart added.
The accelerated share repurchase program was completed under the company's current us$ 1 billion share repurchase program that was approved by the company's Board of Directors in June of 2012. The company has us$ 600 million remaining on this authorization.
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