Avista Corp. Buyback
OLI recorded this information on 6/16/2014
Share Amount Authorized:
Avista Corp. (NYSE: AVA) today announced that its board of directors has approved the repurchase of up to 4 million shares of the company's outstanding common stock, conditioned upon the consummation of the planned sale of Ecova, Inc. (Ecova), which was announced on May 29, 2014. Repurchases of common stock will commence on the later of the date of the closing of the Ecova sale or July 7, 2014, and will not continue past Dec. 31, 2014.
Avista is a holding company. Through its subsidiaries, Co. is primarily an electric and natural gas utility with certain other business ventures. Co.'s business segments are: Avista Utilities, which provides electric distribution and transmission, and natural gas distribution services in parts of eastern Washington and northern Idaho, as well as natural gas distribution service in parts of northeastern and southwestern Oregon; and Alaska Electric Light and Power Company, which provides electric services in Juneau, AK. Co. has other businesses, including venture fund investments, real estate investments, as well as certain other investments.
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Hold (1.50 out of 4)