|
contents | business | |||||||||
| Caterpillar authorizes $7.5 billion share repurchase program Caterpillar announced its board of directors has approved a new $7.5 billion stock repurchase program. Caterpillar expects to complete the new authorization within the next five years. The company said the new program represents the fourth program of stock buy-backs since 1995. During that 12-year period, Caterpillar returned $8.5 billion to stockholders through the repurchase programs. The company also announced that within the next few months it expects to complete its current stock repurchase program, valued at $6.4 billion, which was approved by the board in October 2003. Purchases under this new authorization will commence on completion of the current authorization and will result in 640 million shares outstanding. write your comments about the article :: © 2007 Construction News :: home page |