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Motorola shares climbed Monday after the cellphone maker accelerated its share buyback program and added an additional repurchase. Shares of Motorola rose 84 cents, or 4.1%, to $21.24 on the New York Stock Exchange. The company said it will buy back about $1.2 billion shares, the remainder of its $4 billion, three-year buyback program, after 14 months. It also announced plans to repurchase up to $4.5 billion more outstanding shares over the next three years.
Monday, July 24, 2006
MOT: Motorola Gains On Buyback Plans
Motorola shares climbed Monday after the cellphone maker accelerated its share buyback program and added an additional repurchase. Shares of Motorola rose 84 cents, or 4.1%, to $21.24 on the New York Stock Exchange. The company said it will buy back about $1.2 billion shares, the remainder of its $4 billion, three-year buyback program, after 14 months. It also announced plans to repurchase up to $4.5 billion more outstanding shares over the next three years.
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