Adobe Systems Incorporated Buyback
OLI recorded this information on 1/17/2017
Adobe Systems Incorporated
Adobe Systems Incorporated (NASDAQ:ADBE) today announced its Board of Directors has approved a new stock repurchase program granting the company authority to repurchase up to $2.5 billion in common stock through the end of fiscal year 2019. Under the new stock repurchase program, which is designed to return value to Adobe's stockholders and minimize dilution from stock issuances, the company may repurchase shares in the open market and also enter into structured repurchase agreements with third parties. The new stock repurchase program, approved by Adobe's Board of Directors, is substantially similar to the company's previous program authorizing the repurchase of up to $2.0 billion in common stock through fiscal year 2017, which authority will soon be exhausted.
Adobe is a software company. Co. provides a line of products and services used for creating, managing, delivering, measuring, optimizing, engaging and transacting with content across personal computers, devices and media. Co.'s segments are: Digital Media, which provides products, services and solutions that enable individuals, teams and enterprises to create, publish and promote their content; Digital Experience, which provides applications and services through Adobe Experience Cloud; and Publishing and Advertising, which contains eLearning solutions, technical document publishing, web conferencing, document and forms platform, printing, and its Adobe Advertising Cloud offerings.
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Strong Buy (3.90 out of 4)