karthikpm Posted October 29, 2015 Share Posted October 29, 2015 They just announced earnings and plans buy back. http://investor.thrxinc.com/releasedetail.cfm?ReleaseID=939052 Theravance also announced today the acceleration of its capital return plan with a $150 million share repurchase plan effective through the end of 2016 that was approved by the company's Board of Directors, replacing its quarterly dividend. The company currently intends to repurchase its shares over this period through a combination of a tender offer and open market purchases, and may also repurchase shares through private transactions, exchange offers, additional tender offers or other means. The repurchase program will be funded using Theravance's working capital. The repurchase program may be suspended or discontinued at any time. Theravance had approximately 117.4 million shares of common stock outstanding as of October 27, 2015. Did they just replace the dividend with purchase program? Yes and it's great ! At these prices, I would rather have the buyback over the dividend. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now