Fiserv board sets buyback plan |
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Wed, 31 Jan 2007 23:56
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BROOKFIELD, Wis. (AFX) - Fiserv Inc., a provider of information management systems and services, said Wednesday its board authorized the repurchase of an additional 10 million common shares.The new authorization does not expire and allows Fiserv to repurchase shares in the open market or in privately negotiated transactions.The company expects to hold common stock repurchased for issuance in connection with acquisitions or equity plans and for other corporate purposes.Fiserv said it completed its repurchase activity from previous authorizations. In February 2006 its board had authorized the buyback of up to 10 million shares.The company currently has about 173.2 million shares outstanding.Shares of Fiserv fell 79 cents, or 1.5 percent, to $51.81 in after-hours trading. They closed the regular Nasdaq session up 71 cents, or 1.4 percent, at $52.60.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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