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Genworth Financial OKs $1B share buyback through end of 2009


Published : Fri, 30 Nov 2007 21:58
By : Agencies
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SAN FRANCISCO (Thomson Financial) - Genworth Financial Inc. after Friday's closing bell said it has approved the buyback of up to $1 billion of its common shares through the end of 2009.

The Richmond, Va.-based company said it currently expects to use about half of its repurchase authority by the end of 2008, subject to market conditions, and alternative capital opportunities.

Shares of Genworth Financial, a provider of insurance and investment-related products and services, closed the regular session up about $1.66, or almost 7%, at $26.24.

Katherine Hunt

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